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Madoff gets 150 years for fraud
New York, June 29 (IANS):
Published on 30 Jun. 2009 12:25 AM IST
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Bernard Madoff, the main accused in a $65-billion financial fraud, was Monday sentenced to 150 years in prison. With the sentence, the maximum that prosecutors requested based on the severity of his crime, Madoff, 71, faces the possibility of spending the rest of his life behind bars. “It is the judgement of this court that Bernard Madoff should be sentenced to 150 years in jail,” judge Denny Chin said. Madoff, the mastermind behind the largest and most sweeping Ponzi scheme ever, had earlier confessed to running the scheme that stole billions of dollars from thousands of victims. He pleaded guilty to 11 criminal counts, including fraud, money laundering, perjury, and false filing with the Securities and Exchange Commission. of the US, the report said. On Friday he was stripped of his property in a legal action.

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