Jun 29, 2009 5:19 pm US/Eastern
Local Madoff Victim Reacts To Sentencing
BEDFORD (WBZ) ―
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George Christin, of Bedford, spoke with WBZ's Peg Rusconi about the Bernard Madoff sentencing.
WBZ
On Bernard Madoff's judgement day, George Christin waited for word of Madoff's sentence while pondering the fate members of his family have suffered at Madoff's hands.
"My mother -in-law is a life sentence. She will be financially insecure for the rest of her life," said Christin, a special education teacher.
His mother-in-law is Marilyn Schwartz, now 88. She lost $2.5 million dollars to Madoff. By phone from Florida, she told WBZ reporter Peg Rusconi what was hardest about this betrayal.
"Finding out I could not help my family. That (helping others) gave me a great deal of pleasure. Finding out I couldn't help others," Schwartz said.
Her late husband, Arthur, owned a printing business and invested with Madoff decades ago. The investment came long before Madoff became a financier to the stars.
In his Bedford living room, Christin listened closely to an early report of what Madoff said to the court.
A reporter relayed that Madoff said, "I made an error in judgement." Christin laughed and shook his head.
"I made a terrible mistake… I've left a legacy of shame for my children and grandchildren. I will live with the pain and torment the rest of my life," Madoff said.
A life that will now be spent in prison as Christin and the world learned this morning.
"Does it make me feel good? No. It doesn't give anyone back the money they lost, nor does the sentencing of Bernard Madoff correct he situation that allowed Bernard Madoff to do what he did," Christin said.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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