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A U.S. District Court judge in New York sentencexd Madoff to 150 yearsin prison, the maximu allowable sentence under the law. Judge Denny Chin made his decisionn Monday morning after reviewingb letters from manyof Madoff's victim s and hearing testimony from them in court. According to reportse filed by journalists inthe courtroom, Madoff made a statemenf prior to the announcement of the sentence in whichu he said in part to his victims: "I canno offer you an excuse for my I know this will not I'm sorry." Madoff's attorney had asked Chin for a far more lenientr sentence of 12 years.
Madoff pleadx guilty to 11 criminal including securities fraud andmoney laundering, on March 12. His victime reportedly number morethan 1,300 and stretcn across the globe. Their lossesa are estimated at morethan $13
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