Bernie Madoff Gets 150 Years
Bernie Madoff got the maximum 150 year sentence.
Bernard Madoff has been sentenced to the maximum 150 years in prison for his multibillion-dollar fraud scheme. U.S. District Judge Denny Chin handed down the sentence in New York on Monday.
Defense attorneys had sought 12 years, while prosecutors wanted the maximum. The federal probation department had recommended 50 years. Chin called the fraud “staggering” and noted that it spanned more than 20 years. He says “the breach of trust was massive.”
The 71-year-old former Nasdaq chairman pleaded guilty to securities fraud and other charges in March and has been jailed since.
I’m reminded of the old joke wherein the lawyer protests a heavy sentence on the grounds that his client is elderly saying, “He’ll never live long enough to serve that!” To which the judge retorts, “Well, do the best you can.”