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Bernie Madoff Sentenced to 150 Years in Prison

June 29, 2009

Bernie Madoff has finally met his judgement day. He was just sentenced to 150 years in prison for orchestrating the biggest Ponzi scheme in history.

The 71-year-old former Nasdaq chairman pleaded guilty to securities fraud and other charges in March and has been jailed since.

U.S. District Judge Denny Chin announced the sentencing in New York this morning. Defense attorneys had sought 12 years, while prosecutors wanted the maximum. The federal probation department had recommended 50 years.

Chin called the fraud...