BUSINESS
07/30/2009 05:12 am ET Updated Dec 06, 2017

Madoff Victims Speak Out At Sentencing (VIDEO) (UPDATED)

Bernard Madoff was sentenced to 150 years in prison earlier today, a maximum sentence. In front of the Manhattan courthouse, Madoff victims spoke out. CNBC has collected some excellent videos. WATCH:

Burt Ross, the former mayor of Fort Lee, New Jersey, offered perhaps the most memorable reaction to Madoff sentencing. Ross suggested that Madoff should be sent to the type of hell depicted in Dante's Inferno.

"I urged the judge to sentence him for the rest of his life, so that when he leaves prison, which means after his death, virtually unmourned by anyone on this earth, that he will then go down to the depths of hell where he will join those other people who are in the 'mouth of satan.'"


Madoff Victim Richard Friedman said that the 150-year sentence was only fair. Some of the Madoff victims, Friedman said, are so destitute that they themselves are serving a life sentence," as a result of Madoff's crimes.

"The system in this country has failed," he added. "The SEC couldn't detect the largest fraud in the world, even though it was handed to them."

Judith Welling and her husband said they hoped the government would work to find people who knew of or supported Madoff's ponzi scheme. Welling described herself as a "middle class investor."

"We're going to work with our congress people to get the laws changed," Judith Welling said. "We just can't be safe investing in our companies here, when we were treated the way we were."

George Nierenberg also suggested he'd like Madoff to be more forthcoming about who helped cover up Madoff's ponzi schme:

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