The disgraced financier is given a 150-year prison term.
Wired PR News – Former financier Bernard Madoff has been sentenced to 150 years in prison. As reported by the Associated Press (AP), Madoff, who pleaded guilty to fraud and other charges in March, was given the maximum sentence allowable for his crimes on Monday.
U.S. District Judge Denny Chin, who refused the 71 year old’s request for leniency, is quoted by the AP as stating “Here the message must be sent 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.”
As noted in the report, Madoff carried out a massive scheme swindling multiple clients out of billions of dollars. He was recently ordered to forfeit $171 billion in assets due to the crime.
Photo Credit: U.S. Department of Justice