Bernie Madoff Sentenced to Maximum 150 Years in Prison

Bernie Madoff has been sentenced to 150 years in prison on Moday following a lengthy trial in which he was found guilty of operating a Ponzi scheme that bilked investors of more than $65 billion.

While Madoff apologized to several of the victims who had gathered inside the federal courthouse and said he had left a “legacy of shame” US District Judge Denny Chin showed no leniency in handing down the sentence, calling the crimes “staggering” and saying the  “the breach of trust was massive.”

Madoff’s attorneys had been seeking a 12 year sentence for the 71-year-old. Madoff, a former chairman of the NASDAQ stock exchange, was arrested on Dec. 11 and eventually pled guilty to an 11-count criminal complaint which included charges of defrauding investors, securities fraud.

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