Does the Madoff’s story end with his plea?

On March 12 Bernard Madoff who is stigmatized everywhere as a perpetrator and a scammer that defrauded thousands of investors in a business that turned to be a Ponzi scheme pleaded guilty to 11 charges in a federal court in Manhattan.

"I operated a Ponzi scheme," Madoff told U.S. District Judge Denny Chin. "I am grateful for the opportunity to speak about my crimes." He expressed his regret for the damage he caused to people. "I knew this day would come," he said.

During the hearing Madoof provided some details of the fraud he committed. He told that the scam began in the early 1990s while prosecutors said the scam began in the 1980s. At that time he pledged to pay out to his clients certain returns and didn’t want to disappoint them. He hoped to make more money later but he failed to. He explained how he moved money between accounts to create an impression of trading, sent false trade confirmations to his clients, and lied to the Securities & Exchange Commission.

The question of how Madoff managed to run such a large scale scam for so many years remained unanswered. He also didn’t unveil if anyone had helped him to manage the complex logistics of the financial fraud.

The three victims that were allowed to present at the hearing expressed their feelings and views. George Nierenberg said he didn't understand why there wasn't a 12th charge, one of conspiracy. Still, he told Chin he accepted Madoff's plea. Another victim, a woman, was disappointed by the trial which she though would shed more light to where the money went and who else was involved. And the last of the victims said she wanted a trial because it would show the world that Americans believe in justice.

But the full stop cannot be put to the story and the time will unveil to us more truth about this scandalous and strange crime…