hide caption. 5089. He has taught Asian Americans and the Law at Fordham, Harvard, and Yale Law Schools, and he taught Legal Writing at Fordham for more than thirty years. [9], On October 6, 2009, President Obama nominated Chin to the United States Court of Appeals for the Second Circuit. "It's rare than an institutional client gets handed down to a woman.". [14] At the time, the PTC had been campaigning for advertisers to withdraw sponsorship of WWE's flagship program SmackDown because it believed that the program caused the violent deaths of four children. Early life. Madoff's other son, Andrew, died from cancer at age 48. At that point, the judge said, symbolism carried more weight.. On the Sunday before sentencing, the judge returned to the roughly 450 e-mails and letters that had come from victims. 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. He also is suing big money managers and investors for billions of dollars, claiming they were Madoff cronies who also cashed in on the fraud. In her lawsuit, Patricia Conradt claims a police officer at the scene of the shooting told a "Dateline" producer: "That'll make good TV. His 8-year-old felt torn and said, "'I love the Knicks, but I love Yao.'" [8] He was an Assistant United States Attorney for the Southern District from 1982 to 1986. He said there may be parts of the country that are less tolerant, noting that there's no question that some Asian-American lawyers feel held back. There, with his brother and later two sons, he ran a legitimate business as middlemen between the buyers and sellers of stock. There were several more Asian-American faces in Madison Square Gardens that night too. By contrast, "it's hard to say whether being Asian-American is going to place anyone at a disadvantage," he said. Chin sentenced Kumar to 2 years of probation. Judge Chin Leaving Seat, Along With Pa. Trial Judge - Law360", "Judge rejects Parents Television Council motion to Dismiss Lawsuit", "World Wrestling Entertainment Settles Lawsuit With Parents Television Council; Founder Brent Bozell Issues Apology", Judge Denies Application Involving Martha Stewart Trial Ink Expert, Government Witness in Martha Stewart Trial Not Guilty of Lying, Korean businessman guilty in oil-for-food case, Texas oilman Wyatt sentenced to year in prison, Google Wins: Court Issues a Ringing Endorsement of Google Books, Challenge to Google Books Is Declined by Supreme Court, "Anil Kumar gets 2 years' probation in Galleon case - The Boston Globe", Madoff Goes to Jail After Guilty Pleas to All Charges, Madoff Is Sentenced to 150 Years for Ponzi Scheme, "Judge Recounts His Thoughts in Madoff Sentencing", Hon. Denny Chin is a United States Circuit Judge for the United States Court of Appeals for the Second Circuit. Denny Chin is a United States Circuit Judge for the United States Court of Appeals for the Second Circuit. He recalled that as he had thought about Mr. Madoffs conduct, two words came to mind: extraordinarily evil.. Pak was convicted by a jury and sentenced by Chin to 5 years in prison.[20]. A court-appointed trustee recovered more than $13bn of an estimated $17.5bn that investors put into Madoffs business. "I think it's real important to have diversity" at the universities, he said. Bernard Madoff, the one-time Wall Street titan who orchestrated one of the largest frauds in history, has died in prison aged 82. Judge Denny Chin. Its a fair argument that you want to give someone some possibility of seeing the light of day, the judge said in an interview, so that they have some hope, and something to live for., And, he added, that was one of the struggles in Madoff., Judge Chin said he quickly rejected the idea of a 12-year sentence for Mr. Madoff, but pondered whether 20 to 25 years might be acceptable. Madoff was sentenced to 150 years in prison for his monumental fraud. As he had from the start, Madoff insisted in his plea that he acted alone something the FBI never believed. He encouraged students at the discussion to be Assistant U.S. The recovered sum fell far short of the sums Madoff told duped clients he was managing. So, you know, I've served. The sentencing of Bernard L. Madoff required balancing the law against the public anger his fraud had inspired. Judge Denny Chin denied Mr Madoff's request, noting many victims were still suffering due to their financial losses. Applause broke out in the New York courtroom when the judge handed down the maximum sentence. ", She added: "Not a day goes by when I don't ache over the stories that I have heard and read.". By giving Bernard L. Madoff a term of 150 years, Judge Denny Chin seemed to find a way to translate society's rage into a number. Madoff was born in 1938 in a lower-middle-class Jewish neighborhood in Queens. In the financial world, the story of his rise to prominence how he left for Wall Street with Peter in 1960 with a few thousand dollars saved from working as a lifeguard and installing sprinklers became legend. Chin was born on May 18, 1955, in Guangdong province, Mainland China.He was the only child of Bing Hing "David" Chin (a.k.a. I mean, serial killers get a death sentence, but thats virtually what he gave me.. How could this be real? Thanks (I guess) for spinning the wheel in my favor! Judge Chin wrote back. A former chairman of the Nasdaq stock market, he attracted a devoted legion of investment clients from Florida retirees to celebrities such as famed film director Steven Spielberg, actor Kevin Bacon and Hall of Fame pitcher Sandy Koufax. 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. Cheryl Weinstein said, Bernard Madoff dresses like us, walks like us, eats and drinks like us, but underneath, he is a beast. NPR transcripts are created on a rush deadline by an NPR contractor. 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. He clerked for the Honorable Henry F. Werker in the Southern District of New York; was associated with the law firm Davis Polk & Wardwell; served as an Assistant United States Attorney for the Southern District of New York; was a founding partner of the law firm Campbell, Patrick & Chin; and was a partner at a firm specializing in labor and employment law, Vladeck, Waldman & Engelhard, P.C. "We thought he was God. He has also presided over two sessions of the Southern District of New York's RISE (Reentry through Intensive Supervision and Employment) Court, a program to help individuals with convictions reenter society after completing their prison terms. 2023 by the Rector and Visitors of the University of Virginia. [26] Chin explained that imposing the maximum sentence on Madoff was appropriate because he had concluded that Madoff's crimes were "staggering" and "extraordinary evil" and wanted the sentence to have a stronger deterrent effect. In McCosh Hall, outside Room 50 hangs a portrait of Judge Denny Chin. Cheers and applause erupted from the gallery as Chin announced the verdict. }, First published on February 26, 2008 / 5:54 PM. 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. I said to my interns, What do you think? he recalled. Chin wrote that a reasonable jury could find there was no legitimate law enforcement need for a heavily armed SWAT team to extract a 56-year-old prosecutor from his home when he was not accused of any actual violence and was not believed to have a gun. The request was denied. It collapsed during the 2008 financial crisis. "You need to be an activist wherever you land, whether it be at a big firm by doing pro bono work and being involved in the community or doing something else in the public interest.". [11] He received his judicial commission on April 23, 2010. He would include the story in his draft. The company previously called the lawsuit "completely without merit." . Judge Chin then began reading his statement from the. 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. When asked what types of questions he asks clerkship candidates, Chin said he always asks candidates to tell him about themselves. In the 1950s, he engineered and produced classical music albums for Angel Records. 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. The request was denied. 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. He saved the document at 9:12 a.m., printed it and soon headed for the 10 a.m. hearing which, because of the expected crowds, would be held in the courts expansive ceremonial courtroom. "I saw what a great job [being a federal judge] was," he said. Chin, a United States Circuit Judge for the Second Circuit, shared that as a first-generation Chinese American and first in his family to attend college, he arrived at Princeton 48 years ago alone on a bus he had taken from the Port Authority in New York City carrying two suitcases. In an interview with The Washington Post he said he had "made a terrible mistake. Chin said he felt diversity on the bench was a valuable goal, since it may help some plaintiffs or defendants understand that the legal system represents them as well. It feels like the nightmare we can't wake from," said Carla Hirshhorn. But his investment advisory business was exposed in 2008 as a multibillion-dollar Ponzi scheme that wiped out people's fortunes and ruined charities and foundations. He knew he would be arriving at work early. In the headlines and news accounts that followed, the words extraordinarily evil seemed to be everywhere. The Madoffs also took a severe financial hit: A judge issued a $171 billion forfeiture order in June 2009 stripping Madoff of all his personal property, including real estate, investments, and $80 million in assets his wife, Ruth, had claimed were hers. 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 . Michael Schwartz counted himself as lucky, at least compared to his disabled twin brother, whose ability to live in a good group home was destroyed by Bernie Madoff. A $105 million lawsuit brought by a woman who claims a sex sting by "Dateline NBC: To Catch A Predator" drove her brother to kill himself can go to trial, a federal judge ruled Tuesday. He directed Klayman to explain the letter and in open court Klayman stated that he had written the letter because Chin was Asian. display: none; Chin said he thought being Asian-American was an advantage for him because it gave him the opportunity to do good things, such as pro bono work for the Asian American Legal Defense and Education Fund. Michael Livermore Weighs In, Podcast: Global Crisis Triggered by Knowledge Economy, Says Paul B. Stephan 77. Chin spoke informally to students in a discussion organized by the Asian Pacific American Law Students Association (APALSA) April 1 at the Law School. The search for Madoff's assets "has unearthed a labyrinth of interrelated international funds, institutions and entities of almost unparalleled complexity and breadth," the trustee, Irving Picard, said in a 2009 report. ", "I'm terminally ill," he said. Chin described one difficult case, the "Candyman" case, where federal agents had issued subpoenas around the country to anyone who had submitted their email address to a web site that gave access to child pornography once you were made a member through that address. Consistently ranked among the top law schools, Virginia is a world-renowned training ground for distinguished lawyers and public servants, instilling in them a commitment to leadership, integrity and community service. 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. Madoff pleaded guilty in March 2009 to securities fraud and other charges, saying he was "deeply sorry and ashamed.". Chin tossed out many of Patricia Conradt's claims but said her principal claims could proceed to trial. (Courtesy photo) Fordham's Center on Asian Americans and the Law, believed to be a first-of-its-kind institution . Frank DiPascali, the companys chief financial officer, said in a guilty plea in 2009 that the statements detailing trades were all fake. "It is probably the most important trial court in the country, given its location in New York City," Chin said. Madoff died at the Federal Medical Center, a prison for inmates with health needs, in Butner, North Carolina, apparently from natural causes. 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. Mr Madoff had been serving a 150-year sentence after he pleaded guilty in 2009 to running a Ponzi scheme, which paid investors with money from new clients rather than actual profits. Afterward, Ruth Madoff often a target of victims' scorn since her husband's arrest broke her silence that same day by issuing a statement claiming that she, too, had been misled by her high school sweetheart. Splitting the baby, to me, was sending the wrong message, he said. I'm Melissa Block. "The law naturally appealed to me, in part because of the challenges we faced growing up," Judge Chin recalls in the video. Copyright 2023 CBS Interactive Inc. All rights reserved. Chin was born in 1954 in Kowloon, Hong Kong and came to the U.S. in 1956. "He stole from the rich. Wiesel described him as one of the greatest scoundrels, thieves, liars, criminals. "We're in a complicated situation. Chin spent much of his statement utterly dismissing each argument the Madoff team put forth. In 1990, he joined the law firm Vladeck, Waldman, Elias & Engelhard, P.C., where he specialized in labor and employment law and represented employees and unions. The probation department had recommended a 50-year term, while the defense lawyer had sought 12 years behind bars for his client. PESCA: Judge Chin had the last word, saying he believed investor losses to be closer to $60 billion. (Its season tickets for the New York Mets went for $38,100.) A defendant should get his just deserts, he remembered thinking. Chin currently teaches first year Legal Writing at Fordham as an adjunct professor. "I think you can overcome these things that's what I really think." 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. To Judge Chin, Mr. Madoff seemed sad, almost as if he were grieving. Madoff was sent to do what amounted to a life sentence at Butner Federal Correctional Complex, about 45 miles northwest of Raleigh, North Carolina. 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. Madoff's lawyers had dubbed the sentence beyond 12 years as having no practical purpose. I've served 11 years already, and, quite frankly, I've suffered through it.". He worked for law firm Davis Polk after his clerkship, then became an Assistant U.S. Attorney for four years, and later started his own firm with friends. "I think in time we'll get more Asian-American judges as these Asian-American litigators get more experience under their belts," he said. 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. Extraordinarily evil - that was the judge's description today of the acts of Bernard Madoff. Instead, he was required to stack the maximum sentences for each count they totaled 150 years to calculate a recommended sentence under the federal advisory guidelines. After the war, as an employee of Columbia Records, he helped create the 3313 rpm long-playing record. He said he had been a beneficiary of affirmative action, but noted that in many colleges affirmative action may hurt Asian-Americans' chances of admittance since they are often not given the same plus-factor as other minorities. You would've never saw it coming. 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 . With the sentencing of Bernard L. Madoff only a week away, Judge Denny Chin received a letter from Mr. Madoffs lawyer asking for a prison term substantially below the 150-year maximum. In a scathing ruling, U.S. District Judge Denny Chin said a jury might conclude the network "crossed the line from responsible journalism to irresponsible and reckless intrusion into law enforcement.". He said a jury might conclude it was done solely to sensationalize and enhance the entertainment value of the arrest. 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 . 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. Madoffs wife, Ruth, survives him. About a dozen Madoff employees and associates were charged in the federal case. In a society governed by the rule of law, he wrote, the message had to be sent that Mr. Madoff would get what he deserves, and would be punished according to his moral culpability.. The whole goddamn thing is a fraud.'". They were two struggling kids from Queens. 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. Judge Denny Chin denied Mr Madoff's request, noting many victims were still suffering due to their financial losses. Madoff, a former Nasdaq chairman, had earned a reputation as a trusted money manager with a track record of delivering stellar returns in good markets and bad. "It was clear the only reason he asked me these questions was because I'm Asian-American," Chin said. 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. I do not agree, Judge Chin wrote about the victims. Updated on: April 14, 2021 / 7:00 PM He had an intern quickly research relevant cases; he reviewed them and began writing, adding about 100 words to the draft. Judge Chin says he understood Mr. Sorkins goal. Bernard Madoff pleads guilty Topics North Carolina UK banks were also among those who lost money, with HSBC Holdings saying it had exposure of around $1bn. Bernie was by no means perfect. #inline-recirc-item--id-942a1cd6-8c88-11e2-b06b-024c619f5c3d, #right-rail-recirc-item--id-942a1cd6-8c88-11e2-b06b-024c619f5c3d { 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 company became one of the largest market-makers - matching buyers and sellers of stocks - and Mr Madoff served as chairman of the Nasdaq stock exchange. 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. 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. Madoff, 82, died at the Federal Medical Center in Butner, North Carolina, the bureau said in a statement. On March 12, 2009, Madoff pleaded guilty to 11 federal charges relating to the scheme. Disgraced financier Bernard Madoff was sentenced Monday to 150 years for his monumental Ponzi scheme. / CBS/AP. [1] [2] Prior to his appointment, Chin served as a judge on the United States District Court for the Southern . At the time of Madoff's arrest, fake account statements were telling clients they had holdings worth $60 billion. He was confirmed in April 2010 and took senior status in June 2021. They worked hard," said Thomas Morling, who worked closely with the Madoff brothers in the mid-1980s setting up and running computers that made their firm a trusted leader in off-floor trading. [15] PTC and WWE settled out of court and, as part of the settlement agreement, the PTC paid WWF $3.5 million USD and PTC president Bozell issued a public apology. When it came Madoff's time to talk, he rose and kept two fists balled on the table as if for ballast. Thurgood Marshall U.S. I said, So basically youre splitting the baby? the judge remembered. This text may not be in its final form and may be updated or revised in the future. U.S. District Judge Denny Chin called the scope of the fraud "staggering" and gave the 71-year-old financier the maximum sentence allowed, ensuring Madoff would live out his days behind bars. [12] Chin assumed senior status on June 1, 2021. A Class of 1975 graduate, Chin was the first Asian American appointed as a United States District Judge outside of California and Hawaii. Get browser notifications for breaking news, live events, and exclusive reporting. Madoff was sent to do what amounted to a life sentence at Butner Federal Correctional Complex, about 45 miles northwest of Raleigh, N.C. . Two interns, both law students, suggested a term of 75 years, but when the judge asked them why, he said, they had trouble articulating their reasons. He had no values, former investor Tom Fitzmaurice told the judge at the sentencing. 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