Barring extraordinary developments, Bernie Madoff will spend the rest of his life in prison.
The Wall Street swindler has been sentenced to 150 years in prison for swindling investors out of many billions of dollars, reports the AP.
That was the sentence prosecutors had been seeking. The federal probation department had asked for 50 years. Madoff’s lawyer, Ira Sorkin, had argued that both figures were excessive — but the judge sided with prosecutors.
In March, Madoff pleaded guilty to securities fraud. The exact value of his crime hasn’t been calculated, in part because the scheme was so large and wide-ranging.
Madoff, 71, said he “will live with this pain, this torment, for the rest of my life.”