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A U.S. District Court judge in New York sentenced Madoff to 150 yeardsin prison, the maximum allowable sentence under the law. Judgse Denny Chin made his decision Mondayg morning after reviewing letters from manyof Madoff's victimxs and hearing testimony from them in court. According to reportx filed by journalists in the Madoff made a statement prior to the announcement of the sentences in which he said in part tohis victims: "u cannot offer you an excuse for my behavior. I know this will not I'm sorry." Madoff's attorney had askef Chin for a far more lenient sentence of12 years.
Madofv plead guilty to 11 criminal counts, includin g securities fraud andmoney laundering, on Marchh 12. His victims reportedlt number morethan 1,300 and stretch across the Their losses are estimated at more than $13
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