Bernie Madoff’s investment swindle should have gotten a name of its own. Ponzi scheme is named after Charles Ponzi and the one pulled off by Madoff is the largest  in history, therefore we will refer to it as Madoff Scheme. Bernie Madoff has committed a crime that has left many high and dry. It has affected everyone. Businesses, celebrities and the working Joe, everyone that got sucked into Madoff scheme will pay for the rest of their life. Bernie Madoff is done. He is in jail and will probably die a peaceful death in there while his investor’s lives are forever ruined. The money Madoff played with were money saved for some kids college education, some saved it for retirement and some were planning to use it to treat their illness such as Alzheimers. It’s all gone! Bernie Madoff’s crime is heinous.

The letters written by Madoff’s victims  were made public on Friday. For most part these people are working people and not the rich and famous. They had worked for years to save up what they had invested with Madoff. Here is what a few of them had to say.

An 80 year old who lost all his retirement savings

I am writing to you as one of many Madoff victims whose retirement savings have been virtually wiped out. Restitution is vital to us. I am 80 and not doing well with the stress. My wife is 63 and has had to go back to work.

A victim whose parents (76 and 73 years old) lost everything

Let it stand before this court in the eyes and ears of everyone affected by him, that Bernard L. Madoff was convicted by his own sociopathic mind and means. He and his family, and their families, deserve to be its ultimate victims. Left with nothing. Not decency. Not sympathy. Penniless. Just the shame of their family name.

A single mother

I was one of the indirect victims of B.Madoff’s fraud. My lossess amount to approximately $250,000. I am a 58 year old single mother and this was most of my retirement fund. Additionally, my 21 year old son’s trust account, in the amount of $18,000, was gutted. This trust account was to be used for his higher education.

52 year old Self-Employed California Woman

I am not rich. The entire amount I lost was nowhere near a million dollars, but I was proud I had saved it. I do not own a home to sell. I do not have anyone to support me in my old age.

One of the investors affected by Madoff

You, Bernard Madoff have committed multiple crimes
You are a murderer. There have already been two suicides that have been publicly attributed to your deeds.
You are a rapist. You have stolen one of the most intimate of personal properties, the self esteem and fruits of a life’s work.
You are a larcenist. You have stolen not only from us but our children and grandchildren

Investor who had been investing for the past 15 years

I went into a deep depression and for the first six weeks was unable to eat. I still wake most mornings with a feeling of dread and disbelief — I’m still waiting to wake up from this nightmare.

One of the letters written to Bernard Madoff

Here is a video of a man who lost $700,000, his entire life savings to Madoff and is back to work. He is 90 years old.

We have a few words for Mr. Madoff,

Bernard Madoff, you have taken lives. You have killed many dreams. You have left people homeless and many who thought had a comfortable retirement are back searching for jobs in this failing economy, all because of you. You have stomped on the dreams of many parents and the future of thousands of children. The suffering you have caused will last a lifetime for all your victims. Money doesn’t buy happiness but it bought hopes to many. Thanks to you, they are all gone.

If you would like to read all the letters written by Madoff victims please follow the link below.
Madoff : Letters From Victims and the Public

Although this catastrophic blow to the economy and personal lives is the doing of Bernard Madoff, lets not forget the government has failed us as well. Hopefully we won’t have to see another Madoff 20 years from now.

Share your thoughts on Madoff, the victims and the government’s role.

I was surprised he didn’t kill himself.
~ Judge Judy

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