Victims rejoice after Madoff sent to the clink

New Jersey victims of the Bernie Madoff Ponzi scheme say they're glad the swindler is now set to rot behind bars. Madoff pleaded guilty to all counts Thursday and now faces up to 150 years in prison.

News 12 Staff

Mar 12, 2009, 10:43 PM

Updated 5,600 days ago

Share:

New Jersey victims of the Bernie Madoff Ponzi scheme say they're glad the swindler is now set to rot behind bars.
Madoff pleaded guilty to all counts Thursday and now faces up to 150 years in prison. He offered a courtroom apology to his victims, but that's not enough for the many who've had their bank accounts annihilated by his actions.
"He did a terrible thing to a lot of individuals," says Alan Cosner, an East Brunswick attorney handling a number of Madoff's New Jersey victims. "They hate him as a person, as the man who committed the crime."
Some of Madoff's victims were present in the courtroom Thursday and applauded when Madoff's bail was revoked. He has been ordered to jail until his sentencing on June 16.
Cosner is warning his clients and other victims that Madoff's plea can't be expected to fix their financial problems. The attorney says he hopes to solve some of those in the coming months.


More from News 12
2:07
STORM WATCH: Heavy rain expected today in New Jersey; weekend sees return of scorching temps

STORM WATCH: Heavy rain expected today in New Jersey; weekend sees return of scorching temps

2:36
Red Bank sewage main seeps into nearby storm drains

Red Bank sewage main seeps into nearby storm drains

0:32
East Brunswick teen accused of plotting to destroy energy facilities to advance white supremacist views

East Brunswick teen accused of plotting to destroy energy facilities to advance white supremacist views

0:13
Sailor saved from capsized sailboat in Barnegat Bay

Sailor saved from capsized sailboat in Barnegat Bay

0:40
United Airlines flight from Miami to Newark diverted after passenger fights with flight attendant

United Airlines flight from Miami to Newark diverted after passenger fights with flight attendant

Fairfield police release new surveillance photos of missing 16-year-old

Fairfield police release new surveillance photos of missing 16-year-old

1:58
PSE&G: Roads reopen in Union City following emergency repairs on ruptured gas line

PSE&G: Roads reopen in Union City following emergency repairs on ruptured gas line

0:26
AT&T 2022 security breach hits nearly all cellular customers and landline accounts with contact

AT&T 2022 security breach hits nearly all cellular customers and landline accounts with contact

0:35
Coach USA cutting 20 NJ Transit bus routes in North Jersey

Coach USA cutting 20 NJ Transit bus routes in North Jersey

0:24
USDA: Health alert issued for ready-to-eat meat illegally imported from the Philippines

USDA: Health alert issued for ready-to-eat meat illegally imported from the Philippines

0:33
Caught on camera: Car burglar enters unlocked vehicles in Gloucester Township

Caught on camera: Car burglar enters unlocked vehicles in Gloucester Township

0:18
NJ Transit: North Jersey Coast Line rail service resumes; commuters frustrated over continued issues

NJ Transit: North Jersey Coast Line rail service resumes; commuters frustrated over continued issues

2:03
Paws & Pals: Moose now up for adoption with Brick City Rescue

Paws & Pals: Moose now up for adoption with Brick City Rescue

1:34
The Real Deal: How to beat inflation with a summer spending plan

The Real Deal: How to beat inflation with a summer spending plan

2:03
Closing arguments wrap up in Sen. Menendez corruption trial; deliberations begin Friday

Closing arguments wrap up in Sen. Menendez corruption trial; deliberations begin Friday

1:56
Police: 8-year-old fatally struck by car while riding bike in Morris County

Police: 8-year-old fatally struck by car while riding bike in Morris County

1:49
Storm Watch Team Meteorologist Skyler Harman looks back at Tropical Storm Fay and ahead to 2024 hurricane season

Storm Watch Team Meteorologist Skyler Harman looks back at Tropical Storm Fay and ahead to 2024 hurricane season

1:41
Avon man charged after crashing into, driving along Belmar boardwalk

Avon man charged after crashing into, driving along Belmar boardwalk

1:05
Belmar lifeguards take the crown in annual tournament

Belmar lifeguards take the crown in annual tournament

0:28
At least 9 injured, more than 70 displaced in massive Atlantic City fire

At least 9 injured, more than 70 displaced in massive Atlantic City fire