As of late 2008, the statements claimed investor accounts totaled $65 billion. His criminal behavior devastated the lives of his victims, leading to suicides, bankruptcies and home losses. "You see how our system works," he said. To Judge Chin, Mr. Madoff seemed sad, almost as if he were grieving. Pence won't commit to supporting Trump if he's the nominee I've served 11 years already, and, quite frankly, I've suffered through it.". At the time, both were being investigated for alleged illegal fundraising activities. At least two investors with Mr Madoff took their own lives after their losses. 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. Paul B. 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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. Madoff pleaded guilty in March 2009 to securities fraud and other charges, saying he was "deeply sorry and ashamed.". [9], On October 6, 2009, President Obama nominated Chin to the United States Court of Appeals for the Second Circuit. For decades, Madoff enjoyed an image as a self-made financial guru whose Midas touch defied market fluctuations. He knew he would be arriving at work early. In McCosh Hall, outside Room 50 hangs a portrait of Judge Denny Chin. Madoff admitted swindling thousands of clients out of billions of dollars in investments over decades. "It was clear the only reason he asked me these questions was because I'm Asian-American," Chin said. display: none; It feels like the nightmare we can't wake from," said Carla Hirshhorn. The probation department had recommended a 50-year term, while the defense lawyer had sought 12 years behind bars for his client. His clients, many Jews like Madoff and Jewish charities, said they didn't know. Mr Madoff is survived by his wife, Ruth Madoff, who maintained she was unaware of the scheme and was never charged. "I also believe that Mr. Madoff was never truly remorseful, and that he. Imposing a 150-year sentence in 2009, judge Denny Chin called Madoffs crimes extraordinarily evil. From his grandfather, a waiter, and his father, a cook in Hell's Kitchen,. ", 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.". From his decision ruling that Megan's Law could not be applied retroactively to offenders convicted before the law was enacted (earning him the unwelcome nickname of "pervert's pal" from detractors), to his decision overruling former Mayor Rudy Giuliani's decision to block the Million Youth March, led by controversial black power leader Khallid Abdul Muhammad, Chin sees it all. 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. When asked what types of questions he asks clerkship candidates, Chin said he always asks candidates to tell him about themselves. We're minorities in some ways, we've done well in some ways," he said, adding that it's still important to be involved in the Asian-American community, a goal Chin tries to honor by accepting as many invitations to events as possible. He had also received an e-mail that day from Gabriel W. Gorenstein, a magistrate judge who had reached into the wooden wheel that is used to randomly assign cases in the courthouse and selected an envelope that contained Judge Chins name. In the lawsuit, Patricia Conradt said NBC "steamrolled" police to arrest her brother after telling police he failed to show up at a sting operation 35 miles away. With the verdict, Chin said he was sending a message "that Mr. Madoff's crimes were extraordinarily evil, and that this kind of manipulation of the system is not just a bloodless crime that takes place on paper, but one instead that takes a staggering toll.". 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? "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. Judge Chin also learned that day that Mr. Madoff would plead guilty to all 11 counts against him, including fraud, money laundering and perjury. Responding to a question from Second Circuit Court of Appeals Judge Denny Chin on whether local authorities could investigate the president under that hypothetical, Consovoy replies: "I think once . He is now a United States circuit judge for the Second Circuit. 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. The Associated Press contributed to this report. (Its season tickets for the New York Mets went for $38,100.) "It may be disgusting, but it's protected activity," he said. 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.. 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. The purpose of this site is to provide information from and about the Judicial Branch of the U.S. Government. US District Judge Denny Chin sentenced Madoff to the maximum possible term. Madoff was sentenced to 150 years in prison for his monumental fraud. The victims who came forward testified that they had suffered financial ruin because of Madoff's fraud. An old IBM computer cranked out monthly statements showing steady double-digit returns, even during market downturns. Madoff responded: There is no innocent explanation.. They were two struggling kids from Queens. 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. Denny Chin is a United States Circuit Judge for the United States Court of Appeals for the Second Circuit. Chin spent much of his statement utterly dismissing each argument the Madoff team put forth. Judge Denny Chin denied Mr Madoff's request, noting many victims were still suffering due to their financial losses. [8][9], President Bill Clinton nominated Chin to the Southern District bench on March 24, 1994, to a new seat created by 104 Stat. 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. To Judge Chin, Mr. Madoff seemed sad, almost as if he were grieving. [11] He received his judicial commission on April 23, 2010. At that point, the judge said, symbolism carried more weight.. A defendant should get his just deserts, he remembered thinking. He stole from the poor. This site is maintained by the Administrative Office of the U.S. Courts on behalf of the Federal Judiciary. "Bernie, up until his death, lived with guilt and remorse for his crimes," his lawyer Brandon Sample said in a statement. 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. 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.. Judge Chin, who joined the Second Circuit bench in 2010, recalls how he moved from Hong Kong to New . 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. The firm was investigated eight times by the US Securities and Exchange Commission because it made exceptional returns. "It was a very vigorous job process because once you have the job you have it for life," he added. After the meeting, a lawyer for the family contacted regulators, who alerted federal prosecutors and the FBI. Flying bug found at Walmart turns out to be rare Jurassic-era insect Judge Chin graduated from Princeton University magna cum laude and received his law degree from Fordham Law School. display: none; I would literally take his naturalization petition, which I have framed in my chambers, and hold it up to the citizens.". He became so hated he had to wear a bulletproof vest to court. 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. 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. Yet symbolism was important, he said, given the enormity of Mr. Madoffs crimes. How could this be real? [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. He joined the court in 2010 after an appointment by President Barack Obama (D). ", She added: "Not a day goes by when I don't ache over the stories that I have heard and read.". Thanks (I guess) for spinning the wheel in my favor! Judge Chin wrote back. He invited them in, then confessed after being asked "if there's an innocent explanation," a criminal complaint said. "Life has been a living hell. 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. Video, At the crash site of 'no hope' - BBC reporter in Greece, Harry and Meghan told to 'vacate' Frogmore Cottage, China and Belarus call for peace in Ukraine, Rare Jurassic-era bug found at Arkansas Walmart, Ed Sheeran says wife developed tumour in pregnancy, Dozens of girls treated after new Iran poisonings, Man survives 31 days in jungle by eating worms. 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. A former law clerk had e-mailed him to say that more than a dozen television trucks were already lined up near the courthouse. His death was announced by the Bureau of Prisons. A spokeswoman for the company did not immediately return a telephone message. Weighing victim emails Typing on a computer in chambers, and on a laptop at home, Judge Chin continued preparing a draft of the statement that he would read in court. A trustee was appointed to recover funds sometimes by suing hedge funds and other large investors who came out ahead and divvying up those proceeds to victims. We trusted everything in his hands," Nobel Peace Prize winner Elie Wiesel, whose foundation lost $15.2 million, said in 2009. This contrasted with Madoff's attorney, Ira Sorkin, who spoke in a halting and, at times, qualified language. Judges are advised to give the toughest sentences to those who have stolen up to $400 million. The request was denied. Early life. 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. The ugly truth: No securities were ever bought or sold. Madoff admitted to committing securities fraud via a Ponzi scheme starting in the early 1990s, which involved potentially as much as $65 billion. [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. The courts probation department had recommended a 50-year term, while the government had requested 150 years. As Judge Chin listened from the bench, nine of Mr. Madoffs victims described the devastation he had caused in their lives. NYT reporter: Son's suicide gave Madoff sense of contrition, Author: Madoffs kin likely didnt know of scam. But he added that it was important to remember the history of Asians in the United States, and mentioned in particular the Korematsu case and the Japanese internment camps during World War II. Disgraced financier Bernard Madoff was sentenced Monday to 150 years for his monumental Ponzi scheme. Judge Denny Chin, who originally had imposed the sentence of 150 years, denied his request for release, calling his crime "one of the most egregious financial crimes of our time," and one that . Denny Chin is a federal judge on senior status with the United States Court of Appeals for the 2nd Circuit. 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. 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. In the headlines and news accounts that followed, the words extraordinarily evil seemed to be everywhere. Just thought Id give you the heads up, Judge Gorenstein wrote. "Often being a woman places you at a disadvantage at many big firms," he said. Chin assumed senior status on June 1, 2021. As Michael Patrick noted when he introduced Judge Chin at the luncheon at which he received New York County Lawyers Association's Edward Weinfeld Award: "Denny presided over both high profile and low pro-file cases. "One of the best things I did as a judge over the years was to preside over the naturalization ceremony. 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. I said, Madoff turn around and acknowledge your victims. . A Bankruptcy or Magistrate Judge? 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. "We never quite got the hang of developing business that was the hard part," he said. 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." Judge Chin said he was particularly moved by an account of a man who had invested his life savings with Mr. Madoff, then died of a heart attack two weeks later. 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. Madoff himself spoke in a monotone for about 10 minutes. 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. Mr. IRWIN CANTOR: I'm a professional loser, yeah. Klayman explained that he and his client were concerned that Chin had ruled against them because Klayman had engaged in activities that some had portrayed as being anti-Asian. He was not bound by that figure, and he considered going beneath it, he said. 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. Victims of Mr Madoff's fraud included celebrities and everyday people, At the crash site of 'no hope' - BBC reporter in Greece. Bernard Madoff pleads guilty Topics North Carolina He was confirmed on April 22, 2010, by the United States Senate, filling the vacancy created by Judge Robert D. Sack who assumed senior status. Mr Madoff,the son of European immigrants who grew up in New York,set up his eponymous firm Bernard L Madoff Investment Securities in 1960. Outside the court, other victims assemble. In the 1980s, Bernard L. Madoff Investment Securities occupied three floors of a midtown Manhattan high-rise. The mans widow had met with Mr. Madoff, who had put his arm around her and told her not to worry, that her money was safe with him. 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.". Like many of his clients, Madoff and his wife enjoyed a lavish lifestyle. Madoff was in a bathrobe when two FBI agents arrived at his door unannounced on a December morning. First came Dominic Ambrosino, a former corrections officer, a guy who used to be on the right side of the prison bars, as he said. He cited Mr. Madoffs victims individuals from all walks of life and told the story of the widow who had been reassured by Mr. Madoff. Please enter valid email address to continue. Read about our approach to external linking. 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. Bruce Baron, a lawyer for Patricia Conradt, said: "This decision shows no one is above the law, no matter how powerful.". In the end, that fraud brought fresh meaning to "Ponzi scheme," named after Charles Ponzi, who was convicted of mail fraud after bilking thousands of people out of a mere $10 million between 1919 and 1920. Then he. "It's real important for you to be involved," he said. His criminal behavior devastated the lives of his victims, leading to suicides,. School teachers, farmers, mechanics and many others also lost money. This material may not be published, broadcast, rewritten, or redistributed. In her lawsuit, Patricia Conradt claims a police officer at the scene of the shooting told a "Dateline" producer: "That'll make good TV. Because federal prisoners cannot be released before at least 85 percent of their sentences are served, it seems certain that Madoff will spend the rest of his life in confinement. He also asks them a hypothetical, noting it is much more important to show balance and reasoning than arguing for a right or wrong answer. Extraordinarily evil By the time Judge Chin entered his chambers on the morning of Monday, June 29, he had decided what his draft was missing, he said. Mr. Ambrosino's motor home is no longer for vacations. NPR transcripts are created on a rush deadline by an NPR contractor. But it was not just the elite and large firms who were victims of the fraud. He recalled that as he had thought about Mr. Madoffs conduct, two words came to mind: extraordinarily evil.. [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. With membership, the site offered the options of chat rooms, surveys, and "vids and pics" for "people who like kids." 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. From 1994 until his appointment to the Second Circuit, he served as a United States District Judge for the Southern District of New York. Madoff died at the Federal Medical Center, a prison for inmates with health needs, in Butner, North Carolina, apparently from natural causes. . Wiesel described him as one of the greatest scoundrels, thieves, liars, criminals. 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. After the war, as an employee of Columbia Records, he helped create the 3313 rpm long-playing record. I said to my interns, What do you think? he recalled. His grandfather had already established himself in America as a waiter, and his father became a chef and his mother worked as a seamstress. A court-appointed trustee has recovered more than $13 billion of an estimated $17.5 billion that investors put into Madoff's business. Updated on: April 14, 2021 / 7:00 PM hide caption. 2008 The Associated Press. A graduate of Princeton, Chin couldn't get a paying job after his first year at the Fordham University School of Law, so he interned for a judge in New York's Southern District, then clerked for the same judge following graduation. He said a jury might conclude it was done solely to sensationalize and enhance the entertainment value of the arrest. 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. February 26, 2008 / 5:54 PM The company previously called the lawsuit "completely without merit." Madoff, 82, died at the Federal Medical Center in Butner, North Carolina, the bureau said in a statement. Chin dismissed the suit Sam Sloan vs. Paul Truong and Susan Polgar in which Sloan accused Susan Polgar and Paul Truong of posting thousands of obscene "Fake Sam Sloan" remarks in his name over a two-year period in an effort to win election to the board of the United States Chess Federation (Polgar and Truong were elected to the board and Sloan was defeated). On March 12, 2009, Madoff pleaded guilty to 11 federal charges relating to the scheme. "We will have to sell our home and hope to survive on Social Security alone.". It all came crashing down in the winter of 2008 with a dramatic confession at Madoff's 12th-floor apartment on the Upper East Side. In explaining how the 150-year sentence was symbolically important, he had neglected to include a third, crucial reason: retribution. "[6] While a student at Princeton, Chin was a staff writer and later managing editor at The Daily Princetonian. Ruth is still living. Five went on trial in late 2013 and watched DiPascali take the witness stand as the government's star witness. The bureau said Madoff's cause of death would be determined by a medical examiner. [5] He graduated magna cum laude with a B.A. Rather, they are doing what they are supposed to be doing placing their trust in our system of justice.. Bernie Madoff leaves federal court in 2009. It was symbolic. 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