Good example

THE arrest and subsequent sentencing of American fraudster Bernard Madoff to 150 years in jail is yet another reminder of the confluence of greed and gullibility.

THE arrest and subsequent sentencing of American fraudster Bernard Madoff to 150 years in jail is yet another reminder of the confluence of greed and gullibility.

The American swindler was jailed for pulling off what is described as one of the most brazen multibillion-dollar investment frauds in history.

His victims included some of the international banking system's leading figures as well as those in charge of the more important hedge funds.

As the allegations against Australia-based South African Barry Tannenbaum show, greed and gullibility are as global as the markets. He is accused of fleecing the super-rich who ought to have known better.

A US court has decreed that Madoff be 191 years old before he is considered for "early" release. We hope our government and corporate world will see this as an example worth following.

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