The sentencing for the five aides to Bernie Madoff have been sentenced by a federal judge. In addition to their prison sentences, which range from 2.5 years to 10 years, the five defendants have been held jointly liable for $155.2 billion. What that high-dollar amount means is that there will be forfeitures of their property in order to bring some relief to the victims of the Madoff Ponzi scheme.
One of the defendants sentenced was Annette Bongiorno, Mr. Madoff’s personal assistant. At the trial, Ms. Bongiorno said she just followed her boss’s instructions and had no idea what was going on in the business. However, the federal judge who sentenced her said that the fraud “unfolded right in front of her.” She stated at her sentencing hearing that she did not know what was happening and that she was sorry for all the loss caused by “Madoff, and, by extension, me.”Ms. Bongiorno was sentenced to six years and denied bail, which means that she will begin her sentence February 19, 2015. She was not given the right to remain free until her appeal has concluded. Ms. Bongiorno will also have to surrender her Bentley automobile for forfeiture, an auto she was able to afford on her assistant’s salary. That might have been one of the clues of a fraud that the judge was referring to.