Bernie Madoff Sentenced to 150 Years

Bernie Madoff has been sentenced to 150-years in prison for running a multi-billion Ponzi scheme that ruined many people's lives. Bernie Madoff will be in jail for the rest of his life. The long sentence surprised experts - many thought it would be a 30-year sentence.

U.S. District Judge Denny Chin said, "This is not just a matter of money. The breach of trust was massive. Investors - individuals, charities, pension funds, institutional clients - were repeatedly lied to, as they were told their monies would be invested in stocks when they were not."

Judge Chin said Madoff's crimes were "extraordinarily evil."

Judge Chin said, "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."

Judge Chin also noted that there were no letters from friends, family or supporters submitted on Mr Madoff's behalf.

Here's a roundup of some of the issues surrounding Bernie Madoff and his sentence:

• A number of celebrities were caught in Madoff's Ponzi scheme
• Bernie Madoff's lawyer Lee Sorkin says his client is remorseful but is unable to articulate it well.
• There's no indication that his wife will ever be charged. She has claimed ignorance to the Ponzi scheme.
• Lots of Palm Beach residents were Madoff victims and they are pleased with the long sentence.
• Newsweek says white-collar crooks like Bernard Madoff aren't treated like your average criminal thanks to help from prison consultants, .
• Madoff's homes are likely to be auctioned to raise money for Madoff victims but who will buy them?.

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