A $105 million lawsuit brought by a woman who claims a sex sting by "Dateline NBC: To Catch A Predator" drove her brother to kill himself can go to trial, a federal judge ruled Tuesday. This story, "," originally appeared in The New York Times. Convicted swindler Bernard Madoff was sentenced Monday to 150 years in prison for stealing billions of dollars from hundreds of investors over decades in one of the largest Ponzi schemes in history. On the other hand, because he is one of few Asian-American federal judges, "I know that I have to do a good job, because I know that if I screw up, it's not just me," it will be the "Chinese judge" that screwed up. Three weeks after Chin ruled on a commercial breach of contract case involving plaintiff's lawyer Larry Klayman, Klayman wrote a letter to Chin asking if he had any connection to John Huang or the Democratic National Committee. Thanks (I guess) for spinning the wheel in my favor! Judge Chin wrote back. His criminal behavior devastated the lives of his victims, leading to suicides, bankruptcies and home losses. U.S. District Judge Denny Chin showed no mercy, sentencing Madoff to the maximum 150 years in prison. When asked about affirmative action, Chin expressed mixed feelings. Following his pleading, Chin revoked Madoff's $10 million bail and ordered him to report immediately to jail at the request of the federal prosecutors, citing that Madoff had both the resources and the incentive to flee before his formal sentencing. The lawyer turned around and made a motion that Chin recuse himself from the case, saying Chin was "too hard on him because he was Asian-American.". After spending several months under house arrest at his $7m penthouse apartment, he was led off to jail in handcuffs, to scattered applause from angry investors in the courtroom. PESCA: Words tumbled out of some victims, others vacillated between tears and rage. On March 12, Madoff pleaded guilty to securities fraud and other charges, saying he was "deeply sorry and ashamed." But the most forceful number in federal court this morning was nine. A former chairman of the Nasdaq stock market, he attracted a devoted legion of investment clients from Florida retirees to celebrities such as famed film director Steven Spielberg, actor Kevin Bacon and Hall of Fame pitcher Sandy Koufax. US District Judge Denny Chin showed no mercy, sentencing Madoff to the maximum 150 years in prison. Chin spoke informally to students in a discussion organized by the Asian Pacific American Law Students Association (APALSA) April 1 at the Law School. "They're now Madoff schemes. v. Applause broke out in the New York courtroom when the judge handed down the maximum sentence. 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, Ponzi schemer Bernie Madoff dies in prison at 82. A Class of 1975 graduate, Chin was the first Asian American appointed as a United States District Judge outside of California and Hawaii. That was the number of victims allowed to speak. Im surprised Chin didnt suggest stoning in the public square, he added. 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. In an interview with The Washington Post he said he had "made a terrible mistake. In her lawsuit, Patricia Conradt claims a police officer at the scene of the shooting told a "Dateline" producer: "That'll make good TV. He confessed the problem to his sons, who went to the authorities. I would literally take his naturalization petition, which I have framed in my chambers, and hold it up to the citizens.". Chin slept with his four siblings in the living room of a one-bedroom apartment, a situation he said was common in his neighborhood. Judge Denny Chin denied Mr Madoff's request, noting many victims were still suffering due to their financial losses. The request was denied. Chin's ruling came on the grounds that WWF had a sound basis in suing the PTC over defamation, interference with business, and copyright infringement. [23], In 2012, Chin presided over the criminal sentencing of Anil Kumar, a senior executive of McKinsey and Company in the Galleon Group insider trading investigation. "I realised that my arrest and this day would inevitably come.". Chin said the lawsuit contained sufficient facts to make it plausible that the suicide was foreseeable, that police had a duty to protect Conradt from killing himself, and that the officers and NBC acted with deliberate indifference. 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. Chin's path to his judgeship offers a compelling parable of an immigrant's success. tally fair than Denny Chin." As a federal district judge, Judge Chin presided over a number of high-profile cases. He stole from the rich. Madoff died at the Federal Medical Center, a prison for inmates with health needs, in Butner, North Carolina, apparently from natural causes. There were several more Asian-American faces in Madison Square Gardens that night too. 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. Madoff was sent to do what amounted to a life sentence at Butner Federal Correctional Complex, about 45 miles northwest of Raleigh, N.C. . He had an intern quickly research relevant cases; he reviewed them and began writing, adding about 100 words to the draft. Madoff was sent to do what amounted to a life sentence at Butner Federal Correctional Complex, about 45 miles northwest of Raleigh, North Carolina. Chin spent much of his statement utterly dismissing each argument the Madoff team put forth. Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, died in a federal prison Wednesday, the federal Bureau of Prisons confirmed to CBS News.. [8] He was an Assistant United States Attorney for the Southern District from 1982 to 1986. Its a fair argument that you want to give someone some possibility of seeing the light of day, the judge said in an interview, so that they have some hope, and something to live for., And, he added, that was one of the struggles in Madoff., Judge Chin said he quickly rejected the idea of a 12-year sentence for Mr. Madoff, but pondered whether 20 to 25 years might be acceptable. Before the sentence was handed down, Madoff faced the wrath of nine of the hundreds of people he cheated in the fraud that wiped out fortunes large and small. 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. Denny Chin, Southern District of New York Court site, "Chin Shares Experiences as Federal District Court Judge, https://en.wikipedia.org/w/index.php?title=Denny_Chin&oldid=1133235341, This page was last edited on 12 January 2023, at 20:46. "Often being a woman places you at a disadvantage at many big firms," he said. He is now a United States circuit judge for the Second Circuit. Madoff admitted to committing securities fraud via a Ponzi scheme starting in the early 1990s, which involved potentially as much as $65 billion. Judge Chin graduated from Princeton University magna cum laude and received his law degree from Fordham Law School. "I think it's real important to have diversity" at the universities, he said. From NPR News, this is ALL THINGS CONSIDERED. This site is maintained by the Administrative Office of the U.S. Courts on behalf of the Federal Judiciary. Klayman later alleged in a brief that because minorities cannot obtain positions in high places without the support of their communities, Chin could not have gotten his appointment without the support of John Huang. And I got into Bernie Madoff. Then Madoff turned and faced the victims and said, I know this will not help, I am sorry. 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. 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. He then specialized in employment law at another firm. "Here, the message must be sent that Mr. Madoff's crimes were extraordinarily evil and that this kind of irresponsible manipulation of the system is not merely a bloodless financial crime that takes place just on paper, but it is instead one that takes a staggering human toll," Chin said. The report said the trustee has located assets and businesses "of interest" in 11 places: Great Britain, Ireland, France, Luxembourg, Switzerland, Spain, Gibraltar, Bermuda, the British Virgin Islands, the Cayman Islands, the Bahamas. Pence won't commit to supporting Trump if he's the nominee Madoff, known as Bernie, was a former chairman of the Nasdaq stock exchange, and was regarded for years as an investment sage. Please enter valid email address to continue. Copyright 2009 NPR. Ruth is still living. [19], Chin presided over the criminal trial of Pak Dong-seon in connection with Pak's alleged involvement in the scandal surrounding the United Nations Oil-for-Food Program. 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. "I also believe that Mr. Madoff was never truly remorseful, and that he. In the 1980s Bernard L Madoff Investment Securities occupied three floors of a midtown Manhattan high-rise. As of late 2008, the statements claimed investor accounts totaled $65 billion. Mr. GEORGE NIERENBERG: I called him Madoff. Judge Denny Chin denied Mr Madoff's request, noting many victims were still suffering due to their financial losses. Ruth is still living. Google. 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. Part of the reason life tenure is so important is so that judges will not be unduly influenced by public opinion, he said, although he is careful to consider both sides of an issue in his judgments. And he turned, he looked at me, but he never looked at the victims. Mr. RON WEINSTEIN: We were taken by surprise, as every other victim. The search for Madoff's assets "has unearthed a labyrinth of interrelated international funds, institutions and entities of almost unparalleled complexity and breadth," the trustee, Irving Picard, said in a 2009 report. Weeks before Bernard Madoff's December arrest, statements showed that his firm had $56 billion in accounts. Prosecutors let her keep $2.5m from the the $825m fortune the couple once possessed. 2021 CBS Interactive Inc. All Rights Reserved. For reasons of symbolism, and to further the principles of retribution and deterrence and to keep faith with victims, Bernard Madoff was sentenced to a 150 years in prison. After the meeting, a lawyer for the family contacted regulators, who alerted federal prosecutors and the FBI. UK banks were also among those who lost money, with HSBC Holdings saying it had exposure of around $1bn. After the sentencing, Ruth Madoff said in a statement that she felt "betrayed and confused" by the actions of her husband. The company became one of the largest market-makers - matching buyers and sellers of stocks - and Mr Madoff served as chairman of the Nasdaq stock exchange. The judge ultimately concluded that even that would have been just way too low., In the end, I just thought he didnt deserve it, he said. Rather, they are doing what they are supposed to be doing placing their trust in our system of justice.. A judge issued a forfeiture order stripping Madoff of all his personal property, including real estate, investments, and $80 million in assets his wife, Ruth, had claimed were hers. His son Mark also killed himself on the second anniversary of his father's arrest. Then he. U.S. Court of Appeals Judge Denny Chin, a Chinese immigrant who grew up in a Hell's Kitchen tenement, is the subject of a newly released Pathways to the Bench video profile, the eighth in a video series in which federal judges talk about challenges that helped prepare them to serve justice. He has also presided over two sessions of the Southern District of New York's RISE (Reentry through Intensive Supervision and Employment) Court, a program to help individuals with convictions reenter society after completing their prison terms. Madoff has already been ordered to forfeit assets worth more than $170 billion the amount prosecutors say "flowed into the principal account to perpetrate the Ponzi scheme." In the 1980s, Bernard L. Madoff Investment Securities occupied three floors of a midtown Manhattan high-rise. The probation department had recommended a 50-year term, while the defense lawyer had sought 12 years behind bars for his client. display: none; That summer he mapped out his career and followed it almost to the letter. Judge Denny Chin denied Mr Madoff's request, noting many victims were still suffering due to their financial losses. Bernie was by no means perfect. He insisted that he acted alone, describing a separate wholesale stock-trading firm run by his sons and brother as legitimate. "He stole from the rich. In the financial world, the story of his rise to prominence how he left for Wall Street with Peter in 1960 with a few thousand dollars saved from working as a lifeguard and installing sprinklers became legend. Chin assumed senior status on June 1, 2021. Just thought Id give you the heads up, Judge Gorenstein wrote. He began to consider how to articulate the message he wanted to send. It was symbolic. 5089. IE 11 is not supported. Bruce Baron, a lawyer for Patricia Conradt, said: "This decision shows no one is above the law, no matter how powerful.". PESCA: Cantor was hurt badly, but not ruined. The government argued it had probable cause to search the homes of people who had entered their address, but Chin granted one defendant's motion to suppress. He felt that Mr. Madoffs conduct was so egregious, he said, that I should do everything I possibly could to punish him.. He decided to review it again the following day. Accuracy and availability may vary. He stole from the in between. 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. I went to a very dear friend and asked him to do me a big favor, and he did. Judge Chin was appointed district judge in the Southern District of New York in 1994 before being nominated to the U.S. Court of Appeals for the Second Circuit. Judge Chin Leaving Seat, Along With Pa. Trial Judge - Law360", "Judge rejects Parents Television Council motion to Dismiss Lawsuit", "World Wrestling Entertainment Settles Lawsuit With Parents Television Council; Founder Brent Bozell Issues Apology", Judge Denies Application Involving Martha Stewart Trial Ink Expert, Government Witness in Martha Stewart Trial Not Guilty of Lying, Korean businessman guilty in oil-for-food case, Texas oilman Wyatt sentenced to year in prison, Google Wins: Court Issues a Ringing Endorsement of Google Books, Challenge to Google Books Is Declined by Supreme Court, "Anil Kumar gets 2 years' probation in Galleon case - The Boston Globe", Madoff Goes to Jail After Guilty Pleas to All Charges, Madoff Is Sentenced to 150 Years for Ponzi Scheme, "Judge Recounts His Thoughts in Madoff Sentencing", Hon. Madoff admitted swindling thousands of clients out of billions of dollars in investments over decades. Outside the court, other victims assemble. 2023 by the Rector and Visitors of the University of Virginia. Mr. Madoff rose and offered a lengthy apology, saying he felt horrible guilt. He turned to face the victims, and apologized again. In 1990, he joined the law firm Vladeck, Waldman, Elias & Engelhard, P.C., where he specialized in labor and employment law and represented employees and unions. Madoff pleaded guilty in March 2009 to securities fraud and other charges, saying he was deeply sorry and ashamed. "Like everyone else, I feel betrayed and confused. He graduated from Stuyvesant High School in 1971. A former law clerk had e-mailed him to say that more than a dozen television trucks were already lined up near the courthouse. As he had from the start, Madoff insisted in his plea that he acted alone something the FBI never believed. Bernard Madoff, right, leaves US . [15] PTC and WWE settled out of court and, as part of the settlement agreement, the PTC paid WWF $3.5 million USD and PTC president Bozell issued a public apology. On October 6, 2009, President Barack Obama nominated Chin to the Second Circuit. In a society governed by the rule of law, he wrote, the message had to be sent that Mr. Madoff would get what he deserves, and would be punished according to his moral culpability.. 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. "Although the crimes Bernie was convicted of have come to define who he was - he was also a father and a husband. Roadways to the Bench: Who Me? But I did not believe he was genuinely remorseful, he recalled. Courthouse, 40 Foley Square, New York, NY 10007 | (212) 857-8500. Another dilemma, he said, rested in the fact that because none of the counts against Mr. Madoff carried a sentence of life imprisonment (indeed, none carried more than 20 years), he could not impose a conventional life sentence. "I'm looking for people who are smart, I'm looking for people I can work with," said Chin, who gets 500 applications for clerkships every year. "When I sentenced Mr. Madoff in 2009, it was . At both levels, Judge Chin was the first Asian American federal judge outside the Ninth Circuit. With membership, the site offered the options of chat rooms, surveys, and "vids and pics" for "people who like kids." NYT reporter: Son's suicide gave Madoff sense of contrition, Author: Madoffs kin likely didnt know of scam. Madoff, 82, died at the Federal Medical Center in Butner, North Carolina, the bureau said in a statement. Bernie Madoff leaves federal court in 2009. Mr. Ambrosino's motor home is no longer for vacations. His brother, Peter, who helped run the business, was sentenced to 10 years in prison in 2012, despite claims he was in the dark about his brothers misdeeds. In December 2010, Madoffs eldest son, Mark, was found hanged in his New York apartment on the second anniversary of the billionaire investment managers arrest for what was then described the biggest swindle in Wall Street history. "I saw what a great job [being a federal judge] was," he said. "I also believe that Mr. Madoff was never truly remorseful, and that he. The judge, explaining why he had rejected the defenses request for a substantially shorter sentence, provided two reasons why the symbolism of a much longer term was important: to send the strongest possible message of deterrence, and to help the victims heal. We trusted everything in his hands," Nobel Peace Prize winner Elie Wiesel, whose foundation lost $15.2 million, said in 2009. At Madoff's sentencing in June 2009, wrathful former clients stood to demand the maximum punishment. [9], On October 6, 2009, President Obama nominated Chin to the United States Court of Appeals for the Second Circuit. 2023 BBC. U.S. Court of Appeals Judge Denny Chin, of New York City, is a naturalized citizen. Imposing a 150-year sentence in 2009, judge Denny Chin called Madoffs crimes extraordinarily evil. [9] He was sworn in as a Circuit Judge on April 26, 2010. Copyright 2023 CBS Interactive Inc. All rights reserved. Ruth is still living. The global financial crisis of 2008 prompted the scheme to unravel, leaving thousands of victims bereft of their savings and Madoff as an avatar for the failure of regulators and financial corruption. Two interns, both law students, suggested a term of 75 years, but when the judge asked them why, he said, they had trouble articulating their reasons. Madoff was born in 1938 in a lower-middle-class Jewish neighborhood in Queens. 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. Judge Chin, who joined the Second Circuit bench in 2010, recalls how he moved from Hong Kong to New York City at the age of 2. "I think in time we'll get more Asian-American judges as these Asian-American litigators get more experience under their belts," 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. Denny Chin (; born April 13, 1954 [1]) is a Senior United States circuit judge of the United States Court of Appeals for the Second Circuit, based in New York City. Cheers and applause erupted from the gallery as Chin announced the verdict. 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