Investor Richard Friedman, who lost $3.1 million in the scheme, believes someone out there is getting away with a crime.

"The crime is really unimaginable. It's not just a typical Ponzi scheme. It affects society as a whole. You don't just have to be a Madoff investor to be affected by this..." he told CNN. "There's no way he could have acted alone. There had to be other people involved. The whole family, as far as I'm concerned, once proof becomes available, should be thrown in jail."

Pleading guilty without a plea bargain suggests that Madoff was unwilling to cut a deal. If that's the case, Friedman is most likely correct.