Reuters

NEW YORK – For anyone who believes crime doesn’t pay, tell that to the New York state legislator who introduced a “Madoff” bill on Monday. Rich New Yorkers convicted of crimes would be forced — if his bill becomes law — to pay the state and federal governments for how much it costs to keep them in jail.

The bill’s moniker is a nod to Bernard Madoff, who began serving a 150-year prison sentence last week in a federal prison in North Carolina for running a Ponzi scheme considered to be Wall Street’s biggest investment fraud. Before his arrest in December, Madoff had lived a life of luxury with a Park Avenue penthouse apartment and luxury homes in other glamorous locales, as well as yachts, designer clothes and collectible watches with eye-popping price tags.

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This entry was posted on Tuesday, July 21st, 2009 at 4:12 pm and is filed under Issues in the News, Media, News.