Bernard Madoff was given the maximum sentence possible by a U.S. District Court judge for the multi-billion dollar investment fraud scheme he engineered which collapsed last year, ruining lives and losing the fortunes of those who trusted him.
The NYT reports: "In pronouncing the sentence … Judge Denny Chinturned aside Mr. Madoff’s own assertions of remorse and rejected thesuggestion from Mr. Madoff’s lawyers that there was a sense of “mobvengeance” surrounding calls for a long prison term. 'Objectively speaking, the fraud here was staggering,' the judge said. 'It spanned more than 20 years.' Aftervictims told a packed courtroom that he should be shown no mercy in thecase, Mr. Madoff stood up from the defense table to acknowledge thedamage he had inflicted and expressed regret. 'I’m responsiblefor a great deal of suffering and pain, I understand that,' Mr. Madofftold the court. 'I live in a tormented state now, knowing all of thepain and suffering that I’ve created. I’ve left a legacy of shame, assome of my victims have pointed out, to my family and my grandchildren.' Addressing his victims seated in the courtroom, he said: 'I will turn and face you. I’m sorry. I know that doesn’t help you.'”
Watch a report on the sentencing, AFTER THE JUMP…
