I’m surprised judge didn’t suggest stoning in public square as Ponzi punishment: Bernard Madoff

Bernard Madoff, who was sentenced for 150 years in prison for running a multi-billion dollar Ponzi scheme two years ago, has said that he was surprised that the federal judge "didn't suggest stoning in a public place" as punishment.

"Explain to me who else has received a sentence like that. I mean, serial killers get a death sentence, but that's virtually what he gave me," The New York Post quoted Madoff, as saying.

In his first comments ever on Manhattan Federal Judge Denny Chin, the 73-year-old scammer said, "I'm surprised Chin didn't suggest stoning in the public square."

Madoff's lawyer, Ira Sorkin, had argued that Madoff, then 71, could expect to live about 13 more years, and therefore he had asked for a term of 12 years -- "just short of an effective life sentence," suggesting that he could be allowed a year of freedom before his death.

Chin said in an interview that he understood Sorkin's argument, but it was not possible for him to make his judgment based on that argument.

"It's a fair argument that you want to give someone some possibility of seeing the light of day so that they have some hope, and something to live for,” Chin said, adding that he rejected the idea of a 12-year sentence, but pondered whether 20 to 25 years might be acceptable. He said he concluded that even that "would have been just way too low."

"In the end, I just thought he didn’t deserve it. The benefits of giving him hope were far outweighed by all of the other considerations," Chin said.  

Chin ultimately handed down a 150-year jail term to Madoff after he pleaded guilty to all 11 counts against him in 2009, including fraud and money laundering. Madoff is currently serving his sentence at a federal lock-up in Butner, NC. 

He insisted that giving him less than 150 years did not appear to be a possibility because of the unprecedented anger, and shock over the scam.
 
"Splitting the baby, to me, was sending the wrong message. Often that's the easy way out, but as we know from the old parable, that wasn’t the right thing to do," Chin added.