http://www.bloomberg.com/apps/news?pid=20601103&sid=aMJBEKJP6kz8
Quote:
Bernard Madoff Gets 150 Years in Jail for Epic Fraud
By David Glovin, Patricia Hurtado and Thom Weidlich
June 29 (Bloomberg) -- Bernard Madoff was sentenced to 150 years in prison for masterminding the largest Ponzi scheme in history.
Madoff appeared in court today before U.S. District Judge Denny Chin for the first time since his March 12 guilty plea for an epic swindle that may have reached $65 billion.
“I don’t ask for any forgiveness,†Madoff, 71, told Chin. He said he deceived his brothers, his two sons and his wife. The courtroom burst into applause as Chin imposed the sentence, which is about six times longer than those meted out to the chief executives of WorldCom Inc. and Enron Corp.
By David Glovin, Patricia Hurtado and Thom Weidlich
June 29 (Bloomberg) -- Bernard Madoff was sentenced to 150 years in prison for masterminding the largest Ponzi scheme in history.
Madoff appeared in court today before U.S. District Judge Denny Chin for the first time since his March 12 guilty plea for an epic swindle that may have reached $65 billion.
“I don’t ask for any forgiveness,†Madoff, 71, told Chin. He said he deceived his brothers, his two sons and his wife. The courtroom burst into applause as Chin imposed the sentence, which is about six times longer than those meted out to the chief executives of WorldCom Inc. and Enron Corp.
With good behavior he might be eligible for parole in only 110 years.