"We thought he was God. The BBC is not responsible for the content of external sites. After the war, as an employee of Columbia Records, he helped create the 3313 rpm long-playing record. He said he had been a beneficiary of affirmative action, but noted that in many colleges affirmative action may hurt Asian-Americans' chances of admittance since they are often not given the same plus-factor as other minorities. As far as we know, Sorkin said, there was no ferreting away of funds. In the headlines and news accounts that followed, the words extraordinarily evil seemed to be everywhere. [14] At the time, the PTC had been campaigning for advertisers to withdraw sponsorship of WWE's flagship program SmackDown because it believed that the program caused the violent deaths of four children. On the Sunday before sentencing, the judge returned to the roughly 450 e-mails and letters that had come from victims. (Courtesy photo) Fordham's Center on Asian Americans and the Law, believed to be a first-of-its-kind institution . Citing data that showed Mr. Madoff, who was then 71, could expect to live about 13 more years, Mr. Sorkin asked for a term of 12 years just short of an effective life sentence, as he put it suggesting that Mr. Madoff might be allowed a year of freedom before he died. We did nothing wrong," said Dominic Ambrosino, a retired New York City corrections officer. At various times, he referred to his monumental fraud as a "problem," "an error of judgment" and "a tragic mistake. Among them was Nobel Peace Prize winner and Holocaust survivor Elie Wiesel, who recalled meeting Madoff years earlier at a dinner where they talked about history, education and Jewish philosophy not money. PESCA: Words tumbled out of some victims, others vacillated between tears and rage. / CBS/AP. She eventually gave him her own pension, funds, Judge Chin wrote in his notes. He would include the story in his draft. "I think you can overcome these things that's what I really think." This material may not be published, broadcast, rewritten, or redistributed. The convicted swindler stood before the judge and his victims and said, I live in a tormented state knowing the pain and suffering I've created. "He'd been staring out the window the all day," DiPascali testified. He then specialized in employment law at another firm. Judge Chin also learned that day that Mr. Madoff would plead guilty to all 11 counts against him, including fraud, money laundering and perjury. Wiesel described him as one of the greatest scoundrels, thieves, liars, criminals. But what the SEC never found out was that behind the scenes, in a separate office kept under lock and key, Madoff was secretly spinning a web of phantom wealth by using cash from new investors to pay returns to old ones. Thanks (I guess) for spinning the wheel in my favor! Judge Chin wrote back. While he said stereotypes about Asian-Americans still exist and sometimes rise to the surface, women, for example, may face more challenges in battling discrimination. Judge Denny Chin: Born To Run Time for a quick break from Biglaw and bonuses. The Madoffs also took a severe financial hit: A judge issued a $171 billion forfeiture order in June 2009 stripping Madoff of all his personal property, including real estate, investments, and $80 million in assets his wife, Ruth, had claimed were hers. U.S. District Judge Denny Chin showed no mercy, sentencing Madoff to the maximum 150 years in prison. Menaka Guruswamy, Arundhati Katju Helped Win Landmark Ruling in India, Consumer Information (ABA Required Disclosures), Asian Pacific American Law Students Association (APALSA), Jamar Walker 11 Makes History as First LGBT Federal Judge in Virginia, Sean Onwualu 24 Trades in Playbooks for Casebooks, LGBT Rights Litigators To Receive Jefferson Medals in Law, Big Data and War: Can a Cyberattack Warrant an Armed Response? Madoff was sent to do what amounted to a life sentence at Butner Federal Correctional Complex, about 45 miles northwest of Raleigh, N.C. . Weeks before Bernard Madoff's December arrest, statements showed that his firm had $56 billion in accounts. Judge Denny Chin spoke informally to students at an event sponsored by APALSA April 1. Timothy A. Clary/AFP/Getty Images U.S. District Judge Denny Chin showed no mercy, sentencing Madoff to the maximum 150 years in prison. Denny Chin is a United States Circuit Judge for the United States Court of Appeals for the Second Circuit. The order left her with $2.5 million. Madoff pleaded guilty in March 2009 to securities fraud and other charges, saying he was deeply sorry and ashamed. [1] [2] Prior to his appointment, Chin served as a judge on the United States District Court for the Southern . Both of Madoff's sons have died, Andrew from cancer at age 48 and Mark from suicide at age 46 in 2010. At that point, the judge said, symbolism carried more weight.. / AP. By contrast, "it's hard to say whether being Asian-American is going to place anyone at a disadvantage," he said. In a scathing ruling, U.S. District Judge Denny Chin said a jury might conclude the network "crossed the line from responsible journalism to irresponsible and reckless intrusion into law enforcement.". The courts probation department had recommended a 50-year term, while the government had requested 150 years. VideoAt the crash site of 'no hope' - BBC reporter in Greece, Sake brewers toast big rise in global sales, The Indian-American CEO who wants to be US president, How 10% of Nigerian registered voters delivered victory, Blackpink lead top stars back on the road in Asia, Exploring the rigging claims in Nigeria's elections, 'Wales is in England' gaffe sparks TikToker's trip. Frank DiPascali, the companys chief financial officer, said in a guilty plea in 2009 that the statements detailing trades were all fake. Prosecutors let her keep $2.5m from the the $825m fortune the couple once possessed. At both levels, Judge Chin was the first Asian American federal judge outside the Ninth Circuit. We thought he was God; we trusted everything in his hands, Elie Wiesel, the late Holocaust survivor and Nobel laureate, said in the same year. To Judge Chin, Mr. Madoff seemed sad, almost as if he were grieving. In McCosh Hall, outside Room 50 hangs a portrait of Judge Denny Chin. Copyright 2023 CBS Interactive Inc. All rights reserved. "[6] While a student at Princeton, Chin was a staff writer and later managing editor at The Daily Princetonian. As agents scoured records for evidence of a broader conspiracy and cultivated DiPascali as a cooperator, the scandal turned Madoff into a pariah, evaporated life fortunes, wiped out charities and apparently pushed some investors to die by suicide. Two years later, Judge Chins recollections resurrect all the anger, shock and confusion that surrounded Mr. Madoffs crimes, and provide a rare peek at the excruciating pressure faced by a judge who had to balance the law, the publics emotions and his own deeply held beliefs while meting out a sentence that was just and satisfied the courts need to send a message. Most judges will tell you that sentencing is the most difficult thing we do, he said. The United States Senate Committee on the Judiciary reported Chin's nomination to the full Senate on December 10, 2009[10] and he was confirmed by a 980 vote on April 22, 2010. Madoff responded: There is no innocent explanation.. Judge Denny Chin explains his reasoning. Victims of Mr Madoff's fraud included celebrities and everyday people, At the crash site of 'no hope' - BBC reporter in Greece. Circuit Court of Appeals, noted the continuing suffering of Madoff's thousands of victims who lost $17.5 billion when a decades-long scheme that . In the 1980s Bernard L Madoff Investment Securities occupied three floors of a midtown Manhattan high-rise. His service as a district court judge was terminated on April 26, 2010, when he was elevated to the United States Court of Appeals for the Second Circuit. In another case, Chin tried to offer some off-the-record advice to a young Korean-American lawyer who had turned an attempt to collect on a note into a RICO case. Mr. IRWIN CANTOR: I'm a professional loser, yeah. [2][3][4] Chin was the first Asian American appointed as a United States District Judge outside of the Ninth Circuit. Chin currently teaches first year Legal Writing at Fordham as an adjunct professor. Then he. The scam involved an estimated $65bn, a figure that included gains Mr Madoff's clients believed they had made due to fake account statements. ", He claimed he and his wife were tormented, saying she "cries herself to sleep every night, knowing all the pain and suffering I have caused.". in psychology from Princeton University in 1975 after completing a 130-page long senior thesis titled "The Old Ones of Chinatown: A Study of the Elderly Chinese. As NPR's Mike Pesca reports, that pain and suffering was evident in the court today. Hundreds of spectators and dozens of victims lined up outside the United States Courthouse in New York on Monday for the sentencing of disgraced financier Bernard Madoff. The judge called Madoff's deeds "extraordinarily evil," and said he needed to send a symbolic message to those who might try to perpetuate a comparable fraud. [25] On June 29, 2009, Chin accepted the prosecutor's recommendation to sentence Madoff to a prison term of 150 years, thus effectively handing down a life sentence. Chin was born in 1954 in Kowloon, Hong Kong and came to the U.S. in 1956. Chin described one difficult case, the "Candyman" case, where federal agents had issued subpoenas around the country to anyone who had submitted their email address to a web site that gave access to child pornography once you were made a member through that address. Judge Chin agreed to an extensive series of interviews as part of a broader look into his sentencings in Federal District Court in Manhattan, which will appear in a later article. He has taught Asian Americans and the Law at Fordham, Harvard, and Yale Law Schools, and he taught Legal Writing at Fordham for more than thirty years. Visit our website terms of use and permissions pages at www.npr.org for further information. Instead, he was required to stack the maximum sentences for each count they totaled 150 years to calculate a recommended sentence under the federal advisory guidelines. His other son, Andrew, died of cancer in 2014. display: none; Madoff raised his profile by using the expertise to help launch Nasdaq, the first electronic stock exchange, and became so respected that he advised the Securities and Exchange Commission on the system. How do you excuse deceiving your family, your investors and an industry you spent your life trying to improve? His own son attended Stuyvesant High School, a top public school in New York which bases admittance solely on a test. Attorneys as well, even if the eventual goal is private practice, because it is rewarding work and a great experience, and also gives you "instant credibility" among judges. He invited them in, then confessed after being asked "if there's an innocent explanation," a criminal complaint said. "I think in time we'll get more Asian-American judges as these Asian-American litigators get more experience under their belts," he said. A federal prison website listed his probable release date as November 11, 2139. Madoff pleaded guilty in March 2009 to securities fraud and other charges, saying he was "deeply sorry and ashamed.". A court-appointed trustee recovered more than $13bn of an estimated $17.5bn that investors put into Madoffs business. The series of four-minute Pathways to the Bench vignettes can be used with high school students and youth groups to encourage them to overcome the inevitable obstacles on the way to their dreams. Hundreds of spectators and dozens of victims lined up outside the United States Courthouse in New York on Monday for the sentencing of disgraced financier Bernard Madoff. And they kind of looked at each other and said yes. They agreed that it was probably not the best thing to do, he said. [27], United States Court of Appeals for the Second Circuit, United States District Court for the Southern District of New York, United States Senate Committee on the Judiciary, Lies and the Lying Liars Who Tell Them: A Fair and Balanced Look at the Right, List of first minority male lawyers and judges in the United States, Hearings Before the Committee on the Judiciary, United States Senate, One Hundred Third Congress, First Session on Confirmations of Appointees to the Federal Judiciary, Part 4, "President Obama Nominates Judge Denny Chin for United States Court of Appeals for the Second Circuit, Judge O. Rogeriee Thompson for United States Court of Appeals for the First Circuit", "Judge Who Sentenced Madoff to Be Nominated to Higher Court", "Obama names Madoff case judge to fill Sotomayor spot", "U.S. District Judge Denny Chin to Address Spring 2009 Law Graduates", "The Old Ones of Chinatown: A Study of the Elderly Chinese", "Denny Chin | Office of the Executive Vice President", "Judicial Nomination Materials: 111th Congress", "On the Nomination (Confirmation Denny Chin, of New York, to be U.S. "When Peter or Bernie said something that they were going to do, their word was their bond," Morling said in a 2008 interview. Judge Denny Chin denied Mr Madoff's request, noting many victims were still suffering due to their financial losses. In a meeting with his sons, he confided that his business was "all just one big lie.". From 1994 until his appointment to the Second Circuit, he served as a United States District Judge for the Southern District of New York. He joined the court in 2010 after an appointment by President Barack Obama (D). Mr. Madoff rose and offered a lengthy apology, saying he felt horrible guilt. He turned to face the victims, and apologized again. "I dug myself deeper into a hole" as the scheme progressed, Madoff said, adding that he would "live with this pain, this torment, for the rest of my life.". At Madoff's sentencing in June 2009, wrathful former clients stood to demand the maximum punishment. Madoff responded: "There is no innocent explanation.". C.W. He stole from the in between. The Madoff family took a severe financial hit: a judge issued a $171bn forfeiture order in June 2009, stripping Madoff of all his personal property, including real estate, investments, and $80m in assets his wife, Ruth, had claimed were hers. Madoff investor George Nierenberg thought the reason Madoff spoke to the victims might have been something he said at Madoff's plea hearing several months ago. Madoff's other son, Andrew, died from cancer at age 48. After several months living under house arrest at his $7 million Manhattan penthouse apartment, he was led off to jail in handcuffs to scattered applause from angry investors in the courtroom. Covering the final, emotional hearing in Federal Judge Denny Chin's courtroom in downtown Manhattan in March 2009, I sat two rows behind Bernie--later sentenced to 150 years in prison--when. He stole from the in between. In the middle of his trial, Wyatt changed his plea to guilty as part of a plea bargain with the government. 2021 CBS Interactive Inc. All Rights Reserved. At the time, both were being investigated for alleged illegal fundraising activities. Mr. Ambrosino's motor home is no longer for vacations. School teachers, farmers, mechanics and many others also lost money. Mr. GEORGE NIERENBERG: I called him Madoff. He also responded to the assertion in Mr. Sorkins letter that the unified tone of the victims statements suggested a desire for a type of mob vengeance that would seemingly negate the judges role. Bernard Madoffs Manhattan penthouse, Long Island getaway and Florida estate are for sale in the hopes of raising tens of millions of dollars to help reimburse victims of his Ponzi scheme. His clients ranging from Florida retirees to celebrities such as Steven Spielberg, actor Kevin Bacon and Hall of Fame pitcher Sandy Koufax consistently enjoyed steady double-digit returns. "He turned to me and he said, crying, 'I'm at the end of my rope. UK banks were also among those who lost money, with HSBC Holdings saying it had exposure of around $1bn. Madoff was sent to do what amounted to a life sentence at Butner Federal Correctional Complex, about 45 miles northwest of Raleigh, North Carolina. Flying bug found at Walmart turns out to be rare Jurassic-era insect, Pence won't commit to supporting Trump if he's the nominee. Madoff was born in 1938 in a lower-middle-class Jewish neighborhood in Queens. He concluded it was not reasonable to permit the government to search the homes and seize the computers of thousands of individuals merely because their e-mail addresses were entered into a web site, where, in addition to gaining access to child pornography, they could engage in text-based activities such as participating in chat rooms and answering surveys. You would've never saw it coming. Administrative Oversight and Accountability, Director of Workplace Relations Contacts by Circuit, Fact Sheet for Workplace Protections in the Federal Judiciary, Chronological History of Authorized Judgeships - Courts of Appeals, Chronological History of Authorized Judgeships - District Courts. He had no values, former investor Tom Fitzmaurice told the judge at the sentencing. In doing so, he seemed to find a way to translate societys rage into a number. Chin presided over the criminal trial of Oscar Wyatt, the Texas oil executive accused of making kick-backs to the Saddam Hussein regime during the UN Oil-For-Food Program. In the 1980s, Bernard L. Madoff Investment Securities occupied three floors of a midtown Manhattan high-rise. Bernie was by no means perfect. tally fair than Denny Chin." As a federal district judge, Judge Chin presided over a number of high-profile cases. Denny Chin is a federal judge on senior status with the United States Court of Appeals for the 2nd Circuit. Fraudster sentenced to 150 years in jail dies from natural causes, New York financier ran scheme that cheated investors of billions. Judges are advised to give the toughest sentences to those who have stolen up to $400 million. When it came Madoff's time to talk, he rose and kept two fists balled on the table as if for ballast. By giving Bernard L. Madoff a term of 150 years, Judge Denny Chin seemed to find a way to translate society's rage into a number. . As Judge Denny Chin noted, the Madoff take is quite literally off the charts. With membership, the site offered the options of chat rooms, surveys, and "vids and pics" for "people who like kids." He took notes and sketched out themes as he went, with a view toward working them into his draft: Not just the wealthy or institutional clients., Not just money: It reaches to the core and affects your general faith in humanity, our government and basic trust in our financial system., The loss of dignity, the loss of freedom from financial worry.. #inline-recirc-item--id-942a1cd6-8c88-11e2-b06b-024c619f5c3d, #right-rail-recirc-item--id-942a1cd6-8c88-11e2-b06b-024c619f5c3d { Often thats the easy way out, but as we know from the old parable, that wasnt the right thing to do., The judge reflected on the frauds unprecedented scale, its duration over two decades and its thousands of victims. But Chin's position is unique for another reason as well he was the first Asian-American appointed to a federal district court judgeship outside the 9th Circuit, and is now just one of six Asian-American Article III judges today. Mr. CANTOR: I wasn't doing as well as I could've been (unintelligible). At least two investors with Mr Madoff took their own lives after their losses. As a federal judge in the Southern District of New York, Judge Denny Chin sees some of the most cutting-edge cases in the country, so much so that three of his cases were used as plots for the popular Law and Ordertelevision series. Madoff admitted swindling thousands of clients out of billions of dollars in investments over decades. Garland testifies before Senate panel amid ongoing special counsel probes, Colon cancer rates rising in younger age group, study finds, Firefighter dies battling blaze in downtown Buffalo, mayor says, 20,000 people may have been exposed to measles at Asbury University revival, Prosecution wraps its case at Alex Murdaugh murder trial, Top McCarthy aide, House Oversight chair each met with Ashli Babbitt's mother, What to know about Shigella bacteria as drug-resistant strain spreads, Ex-Georgia star Jalen Carter was racing in deadly crash, arrest warrants allege, Fiery train crash in Greece kills dozens, many of them students, Flying bug found at Walmart turns out to be rare Jurassic-era insect, Pence won't commit to supporting Trump if he's the nominee. "But I did not believe he was genuinely remorseful," he recalled. He had an intern quickly research relevant cases; he reviewed them and began writing, adding about 100 words to the draft. Authorities say that over the years, at least $13 billion was invested with Madoff. Mr. RON WEINSTEIN: We were taken by surprise, as every other victim. When Klayman appealed, the 2nd Circuit affirmed Chin's sanctions. In explaining how the 150-year sentence was symbolically important, he had neglected to include a third, crucial reason: retribution. Courthouse, 40 Foley Square, New York, NY 10007 | (212) 857-8500. Applause broke out in the New York courtroom when the judge handed down the maximum sentence. Bernie Madoff was born in 1938 in a lower-middle-class neighborhood in the New York borough of Queens. On one hand, many Asian-Americans have done very well in America, he said, but more recent immigrants often face serious problems and prejudice and might be deserving of some special consideration. Biden to say in Afghanistan speech its time to end Americas longest war live, Original reporting and incisive analysis, direct from the Guardian every morning. 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