Monday, June 29, 2009
|
|
Bernie Madoff Gets 150 Years
|
|
Posted by:
Jillian Bandes at
12:09 PM
|
Madoff, who scammed hundreds of investors out of tens of billions of dollars in a massive Ponzi scheme, was sentenced to 150 years behind bars by a New York District Court. The disgraced financier said he "will live with this pain, this torment, for the rest of my life," and that "I dug myself deeper into a hole," from which he was unable to escape.
The total amount that Madoff stole is unknown, but investigators have so far uncovered $65 billion in losses, which disproportionately affected Jewish investors. The courtroom applauded when the sentence was handed down - a sentence several times as severe as those doled out to convicted CEO's of Enron Corp. and WorldCom Inc. His wife, Ruth, is expected to make a statement later today.
|
|
|