Monday Madoff: Bernie Gets 150 Years, Max. Sentence

Justice is served.  Bernard L. Madoff was sentenced to 150 years today, so much for that 12 years his lawyer was trying to get him.  Judge Chin sentenced Madoff on 11 charges, including securities fraud and money laundering.  He said "the breach of trust was massive". Go Directly to Jail.

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Now the news this morning -- NEW YORK (AP) — Bernard Madoff has been sentenced to the maximum 150 years in prison for his multibillion-dollar fraud scheme.

U.S. District Judge Denny Chin handed down the sentence in New York on Monday.

Defense attorneys had sought 12 years, while prosecutors wanted the maximum. The federal probation department had recommended 50 years.

Chin called the fraud "staggering" and noted that it spanned more than 20 years. He says "the breach of trust was massive."

The 71-year-old former Nasdaq chairman pleaded guilty to securities fraud and other charges in March and has been jailed since.