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Victims of Bernard L. Madoff broke out in cheers and applause yesterday as Southern District Judge Denny Chin ordered a 150-year prison sentence for Mr. Madoff's gigantic Ponzi scheme. "Symbolism is important," Judge Chin said as he hit Mr. Madoff with the maximum possible term ? by far the largest ever for a white-collar crime in the Southern District, imposed for offenses the judge called "staggering" in size and scope. "Here, the message must be sent that Mr. Madoff's crimes were extraordinarily evil," the judge said. "This is not a bloodless financial crime that occurred only on paper, but one that took a staggering human toll."
June 30, 2009 at 12:00 AM
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