Madoff Sentenced To 150 Years

By Gilbert Mercier, NEWS JUNKIE POST
Latest update @ 8:35AM( US PST): Madoff was just sentenced to 150 years.

The disgrace financier Madoff will be sentenced today, in a New-York court.

He is charged with a $50 Billion Ponzi scheme. It is arguably the biggest swindle in US history.

Last March, Madoff pleaded guilty, he could be sentenced for as much as 150 years.

Madoff’s wife, Ruth Madoff, will be left with $2.5 Million and will have to give up around $ 80 Million in assets. Ruth Madoff wasn’t charged with any crimes but could still be liable for civil lawsuits.

Last Friday, Madoff forfeited the rights to various assets in a deal made with Prosecutors, and approved by Judge Chin.

The real estate assets to be sold include the couple’s $ 7 Million apartment in Manhattan, an $11 Million property in Florida and a $3 Million house in Long Island.

The proceeds from the sales will be allocated between Madoff’s defrauded investors.

Twelve days ago, 113 of Madoff’s victims communicated their statements to the Federal prosecutors in the case. This is the full list of Madoff’s victims.