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Madoff victims from Valley address former broker in court

Reported by: Tim Vetscher
Email: tvetscher@abc15.com
Last Update: 6/30/2009 1:33 am
SURPRISE, AZ -- Valley resident Dominic Ambrosino was the first of Bernie Madoff's victims to address their former investment broker in court Monday.

The former New York City corrections officer who now calls Surprise home with his wife Ronnie Sue urged the judge to give Madoff a long prison sentence.

"He looked me right in the eye, I was very surprised," said Dominic Ambrosino.  "I was one of the few people he looked in the eye."

The judge sentenced Madoff to 150 years in prison, meaning the 71-year-old will spend the rest of his life behind bars.

Madoff ran the largest Ponzi scheme in United States history, scamming his clients out of billions of dollars.

The Ambrosinos themselves lost more than $1.6 million.

"It felt good, it felt right," said Dominic Ambrosino, referring to addressing the court prior to sentencing.  "The judge sent a message."

"(Madoff) is a man, I'll give him that," added Dominic Ambrosino.  "He faced us. The message the judge sent today, we're just hoping that he follows through."

After the hearing, the Ambrosinos turned their attention to the next fight they face, getting restitution.

Appearing on the Fox News Channel, Ronnie Sue Ambrosio took issue with the Securities Investor Protection Corporation or SIPC. a non-profit agency set up by Congress to help investors whose brokerage firms have failed.

"The (SIPC) trustee has managed to redefine the law," said Ronnie Sue Ambrosino. "The victims are not protected whether direct or indirect."

The Ambrosinos will return to the Valley on Tuesday.

It remains unclear when or even if their life savings will be returned to their bank account.



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