BREAKING: Madoff Sentenced to Maximum 150 Years

Judge Denny Chin Sentenced Bernard Madoff to 150 years in prison—the maximum sentence allowed—for creating the massive Ponzi scheme that defrauded hundreds of people and institutions of millions of dollars.

Chin called Madoff’s crime “extraordinary evil.”

Judge Denny Chin turned aside Mr. Madoff’s own assertions of remorse and rejected the suggestion from Mr. Madoff’s lawyers that there was a sense of “mob vengeance” surrounding calls for a long prison term.

“Objectively speaking, the fraud here was staggering,” the judge said. “It spanned more than 20 years.”

“Cheers and applause” erupted in the courtroom as the sentence was announced.

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