SENTENCED IN SCHEME

Madoff gets 150 years in prison

NEW YORK (AP) — A federal judge rejected Bernard Madoff’s plea for leniency Monday, sentencing the 71-year-old swindler to spend the rest of his life in prison for an “extraordinarily evil” fraud that took a “staggering toll” on thousands of victims.

U.S. District Judge Denny Chin cited the unprecedented nature of the multibillion-dollar fraud as he sentenced Madoff to the maximum of 150 years in prison, a term comparable only to those given in the past to terrorists, traitors and the most violent criminals. There is no parole in federal prison, so Madoff will most likely die there.

“Here the message must be sent that Mr. Madoff’s crimes were extraordinarily evil and that this kind of manipulation of the system is not just a bloodless crime that takes place on paper, but one instead that takes a staggering toll,” said Judge Chin.

The massive Ponzi scheme run by Madoff since at least the early 1990s demolished the life savings of thousands of people, wrecked charities and shook confidence in the U.S. financial system.

Judge Chin announced the sentence with Madoff standing at the defense table, wearing a dark suit, white shirt and a tie, and looking thinner than his last court appearance in March. He gave no noticeable reaction when the sentence was announced.

He also showed no emotion though he looked down earlier in the hearing as he listened to nine victims spend nearly an hour venting their despair and anger. Some openly wept or raised their voices, labeling Madoff a “monster,” “a true beast” and an “evil low-life.”

“Life has been a living hell. It feels like the nightmare we can’t wake from,” said Carla Hirshhorn.

“He stole from the rich. He stole from the poor. He stole from the in-between. He had no values,” said Tom Fitzmaurice. “He cheated his victims out of their money so he and his wife, Ruth, could live a life of luxury beyond belief.”

Sheryl Weinstein, a certified accountant, said Madoff was effective because he seemed normal.

“But underneath the fa ßade is a true beast,” she said. “He should not be given the opportunity to blend so seamlessly into our society again.”

When asked by the judge whether he had anything to say, Madoff slowly stood, leaned forward on the defense table and spoke in a monotone for about 10 minutes. At various times, he referred to his monumental fraud as a “problem,” “an error of judgment” and “a tragic mistake.”

He claimed he and his wife were tormented, saying she “cries herself to sleep every night, knowing all the pain and suffering I have caused,” he said. “That’s something I live with, as well.”

He then finally looked at the victims lining the first row of the gallery.

“I will turn and face you,” he said mechanically. “I’m sorry. I know that doesn’t help you.”

Madoff, who has been jailed since March, already has taken a severe financial hit: Last week, a judge issued a preliminary $171 billion forfeiture order stripping Madoff of all his personal property, including real estate, investments, and $80 million in assets his wife had claimed were hers. The order left her with $2.5 million that couldn’t be tied to the fraud.

The terms require the Madoffs to sell a $7 million Manhattan apartment where Ruth Madoff still lives.

An $11 million estate in Palm Beach, Fla., a $4 million home in Montauk and a $2.2 million boat will be put on the market as well.