Madoff Gets Max: Sentenced to 150 Years

After an apology from the mastermind behind the largest Ponzi scheme to date, a federal judge sentenced Bernie Madoff to the maximum prison sentence today; 150 years behind bars.

In his short apology, Madoff did not ask for forgiveness or offer excuses, he simply turned to face his victims – many of whom were completely drained of their life savings -- to say, “I’m sorry.”

The sentence was pushed by prosecuting attorneys, and was calculated using the number of victims, the amount of money Madoff stole and the amount of damage caused by his actions; the defense asked for 12 years for Madoff’s guilty plea.

The fraudulent businessman will carry out his sentence in the Metropolitan Correctional Center in Manhattan.

Source:

CNNMoney: Madoff Sentenced to 150 Years