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Bernie Madoff Sentenced to 150 Years

By Chris

Ponzi mastermind Bernie Madoff’s day of reckoning has come. A federal judge sentenced Madoff to 150 years, the maximum sought by the prosecution, according to CNN. Following the sentence, Madoff offered an apology to his victims. I live in a tormented state for all the pain and suffering I created, Madoff said. “I left a legacy of shame. It is something I will live with for the rest of my life. Madoff orchestrated a massive securities fraud that swindled investors out of billions of dollars. Much of that money is still unaccounted for, and Madoff is expected to be forced to pay back his victims. Madoff’s defense attorney had asked the judge for a 12 year sentence, arguing that at age 71, his client’s life expectancy would make even that sentence a life sentence.continue to full post

Full post as published by The Criminal Defense Blog on June 29, 2009 (boomark / email).