Bernard L. Madoff was handcuffed and led off to prison for the rest of his life this morning after admitting to a massive Ponzi scheme before a courtroom filled with angry investors. Madoff, 70, pleaded guilty to 11 counts in a criminal information whose maximum sentences total 150 years. During an allocution he read in a steady voice, but with his eyes blinking rapidly, Madoff told New York federal Judge Denny Chin that he was "so deeply sorry and ashamed" for his crimes.
Madoff Pleads Guilty, Will Spend Rest of His Life in Prison
New York Law Journal
March 12, 2009