Convicted swindler Bernard Madoff was sentenced Monday to 150 years in prison for stealing billions of dollars from hundreds of investors over decades in one of the largest Ponzi schemes in history.
U.S. District Judge Denny Chin called the scope of the fraud "staggering" and gave the 71-year-old financier the maximum sentence allowed, ensuring Madoff would live out his days behind bars. The probation department had recommended a 50-year term, while the defense lawyer had sought 12 years behind bars for his client.
With the verdict, Chin said he was sending a message "that Mr. Madoff's crimes were extraordinarily evil, and that this kind of manipulation of the system is not just a bloodless crime that takes place on paper, but one instead that takes a staggering toll."
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