Now, that’s a long time!
Yahoo News reports…
Bernard Madoff sentenced to 150 years in prison
Disgraced financier Bernard Madoff was sentenced to 150 years in prison on Monday for perpetrating Wall Street’s biggest and most brazen investment fraud, the maximum punishment for what the judge called an extraordinarily evil crime.
Cheers and applause came from the courtroom — filled with his fleeced investors — as the judge handed down the penalty.
Madoff, 71, stood passively with his hands clasped at his waist, showing no reaction when he heard the sentence that will send him to prison for the rest of his life.
He was escorted out of the courtroom by federal marshals but not handcuffed. It was not yet known where Madoff will serve his sentence. He has been held in a small Manhattan jail cell for the past three months.
U.S. District Judge Denny Chin in Manhattan said the symbolism of a 150-year prison sentence was important, given the magnitude of the breach of trust over decades. He pronounced the punishment after hearing emotional statements from nine victims, some of whom said they had lost their life savings, were forced to sell their homes and feared an old age in poverty.
“The fraud here was staggering,” Chin said before imposing a sentence equal to the maximum allowed for each of 11 crimes to which Madoff pleaded guilty in March.
Madoff sat passively throughout the hour-and-a-half hearing as his victims called him a “beast,” an “animal” and a lowlife. He wore his signature dark gray suit and black tie instead of the jail uniform he has worn since being taken into custody in March.
The confessed swindler apologized to his victims, at one point briefly turning in their direction while he spoke.
“I will live with this pain, with this torment, for the rest of my life,” he said in calm, measured tones. “I live in a tormented state knowing the pain and suffering I have created.”