The Am Law Daily reports that Bernie Madoff has been sentenced to 150 years in prison. For some of the counts, Judge Denny Chin gave the convicted financier 20 years, the maximum amount allowable under the law.
Chin deferred the question of restitution for 90 days.
Chin said from the bench that he didn't agree with the position of Madoff's lead counsel, Ira Sorkin, that victims were seeking "mob justice." Chin called Madoff's fraud "unprecedented" by any monetary measure.
The Am Law Daily has more here.
Wow...150 years. That's crazy.
Posted by: Chrystal K. | June 29, 2009 at 06:42 PM
This slime ball got what he deserved. The sad thing is he will spend his time in a country club prison. What will all these people do that lost everything?
Posted by: Ryan | June 29, 2009 at 04:55 PM
Yeah, but he'll only do 127 1/2 years of it, with good behavior. 126 1/2 years if he gets into the drug/alcohol rehab program. And Bureau of Prisons may let him to the last six months in a halfway house.
Posted by: Ken | June 29, 2009 at 01:29 PM