Bernie Madoff Sentenced to 150 Years for Ponzi Scheme

Ponzi-schemer and former non-executive chairman of the NASDAQ stock exchange Bernard Madoff was handed a 150 year prison sentence by U.S. District Judge Denny Chin this morning. In the courtroom, Madoff explained to Judge Chin, prosecutors and his victims that he thought he could "work his way out" of fraud and that he lives in a "tormented state." Also, he said that he "lied to his brother and sons and that his wife Ruth Madoff cries herself to sleep each night." Bernard, if you recall, plead guilty in March 2009 to 11 federal crimes, including securities fraud, wire fraud, mail fraud, money laundering, perjury, and false filings with the SEC. Read more about this morning's ruling at Gothamist.