On June 29, federal judge Denny Chin handed down the sentence heard ’round the world: 150 years in prison for Ponzi schemer Bernard Madoff.
The sentence was the maximum possible for the massive fraud that Madoff, 71, confessed to in December 2008. It was also an order of magnitude larger than the 12 years in prison his defense lawyers proposed, reportedly with a straight face.
In many ways, particularly with respect to Madoff himself, the 150-year sentence provides closure to the saga that has dominated the financial news since his arrest eight months ago. Madoff is now convicted and sentenced ...