Wednesday, June 17, 2009

SEC allows Madoff to settle civil charges

http://www.ft.com/cms/s/0/930b13ae-5ac9-11de-8c14-00144feabdc0.html

We're living in the Twilight Zone. Were right is wrong and wrong is fine.

The US Securities and Exchange Commission on Tuesday agreed to allow Bernard Madoff to settle civil fraud charges without admitting to any wrong-doing.

Mr Madoff, who in March pleaded guilty to 11 charges related to his $64bn Ponzi scheme, is scheduled to be sentenced to a long prison term this month. Victims have been lobbying the judge to impose the maximum sentence possible