They well deserve it
I hope the rest of the folks involved get nuked as well. And that SEC heads roll. But these two were an essential part of a scheme that scammed many many people out of an amazing amount of money. How many people, not all of them super-rich, will have lost their life savings? Commit suicide?
Plus, if you go to jail for a year for breaking into a car, but only a few years for stealing millions, cost/benefit is clearly pointing you to do high-level white collar crime. That will bring us more Enrons and Madoffs.
Please, how could you not know that this was investment fraud? Last, but not least, the Madoff thing came apart as soon as the recession hit. It was going on for years _before_. So that lame excuse of needing the job does not apply. The fact that they were squeezing the boss for $ is irrelevant IMHO.
Do the crime, do the time. I usually think the throw-them-in-jail crowd is overreacting, but that applies very well here.
BTW, "Excel guy" at the top is a nitwit.