Bernie Madoff sentenced for multibillion-dollar fraud scheme - KCBD NewsChannel 11 Lubbock

6/29/09

Bernie Madoff sentenced for multibillion-dollar fraud scheme

Posted:

Bernard Madoff is sentenced to 150 years in prison for multibillion-dollar fraud scheme. U.S. District Judge Denny Chin handed down the sentenced in New York this morning.

The 71-year-old financier apologized Monday to his family and to his victims. He said at his sentencing that he will live with this pain, this torment, for the rest of my life."

Madoff says that he dug himself "deeper into a hole" as the scheme progressed.

Attorney Ira Sorkin says the 150 years in prison recommended by prosecutors or the 50 years recommended by the federal probation department are excessive.

Victims who lost millions of dollars earlier urged a stiff sentence for the former Nasdaq stock market chairman.

Madoff has pleaded guilty to securities fraud and other charges in March and has been jailed ever since.

 

Powered by WorldNow

5600 Avenue A
Lubbock, TX. 79404

FCC Public File
publicfile@kcbd.com
806-744-1414
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and KCBD. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.