Madoff gets 150-year jail term

 

NEW YORK — Bernard Madoff was sentenced to 150 years in jail, the maximum sentence allowed for his crimes.¬†US District Court Judge Denny Chin sentenced Madoff on Monday, describing his crimes as “staggering”.

Madoff, 71, confessed to milking investors of up to $65 billion in his Ponzi scheme.¬†Prosecutors had sought the 150-year sentence, while Madoff’s lawyers had asked for leniency and a 12-year sentence.

Judge Chin noted that not one of Madoff’s friends or family members asked for leniency for Madoff, and that Madoff had not fully cooperated in the investigation into his crimes.

 

JTA