According to prosecutors, Mr. Madoff swindled his investors out of some $170 billion over the course of the Ponzi scheme. In December, Madoff's books indicated a total of $65 billion was currently "invested."
Mr. Irving Picard, the trustee charged with winding down Mr. Madoff's affairs has thus far only been able to collect $1.2 billion to return to his victims.
Now, don't get me wrong, some sanction is required in this case. I just don't know if burying Mr. Madoff beneath the jail is it. With today's sentencing, the same folks whose "investments" paid for Mr. Madoff's lavish lifestyle will once again be paying to house him in prison.