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June 30, 2009 | Tconsoli | Comments 0 | Filed Under: DailyGovernmentNewsWall StreetWorldYour Home-Your Future Radio

‘Evil’ Madoff Gets 150 Years in Epic Fraud

[Madoff Is Sentenced] In this courtroom sketch, Bernard Madoff, left, is seen with prosecutor Lisa Baroni and judge Denny Chin in Manhattan federal court in New York.

Bernard Madoff, the self-confessed author of the biggest financial swindle in history, was sentenced to the maximum 150 years behind bars for what his judge called an “extraordinarily evil” fraud that shook the nation’s faith in its financial and legal systems and took “a staggering toll” on rich and poor alike.

The landmark sentence, one of the stiffest ever given for a white-collar crime, came just six months after Mr. Madoff, a pioneer on Wall Street, allegedly told his sons that his entire business was a massive Ponzi scheme. The penalty sparked a burst of applause in a courtroom packed with victims of the fraud.

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