Former NASDAQ chairman and titanic swindler Bernard Madoff was convicted today of charges that range from securities fraud to money
laundering to false filings with the
Over the past 25 years, Madoff used his investment firm, Bernard L. Madoff Investment Securities LLC, to cheat numerous clients -- some famous -- out of as much as $65 billion in what is being called the largest Ponzi scheme in history. He was ordered to jail immediately following his conviction, and he could face a maximum sentence of 150 years. Sentencing is scheduled for June 16.
“I never invested the funds in securities as promised,”
Madoff told the judge in court today. He went on to say that he was “deeply
sorry” and knew what he did was criminal.
Some of Madoff's victims speak out:
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