Bernard Madoff told a federal judge he had no excuses before U.S. District Judge Denny Chin sentenced him to 150 years for masterminding the largest Ponzi scheme in history that reached $65 billion.
Madoff today was led into the 11th floor courtroom in Manhattan federal court clad wearing a suit and flanked by federal marshals. Seated beside defense attorney Ira Sorkin, Madoff sat silently as nine former investors assailed him for a fraud that cost many their life savings. “I don’t ask for any forgiveness,” Madoff, 71, told Chin. He said the deceived his brothers, his two sons and his wife. Madoff says that he dug himself “deeper into a hole” as the scheme progressed.
Madoff pleaded guilty to securities fraud, mail fraud, wire fraud, investment adviser fraud, three counts of money laundering, false statements, perjury, false filings with the SEC and theft from an employee benefit plan.
