Justice

Convicted Wall Street swindler Bernard Madoff was sentenced to 150 years in prison (the maximum sentence) Monday for a fraud that the judge called so "extraordinarily evil" that he needed to send a message to potential copycats and to victims who demanded harsh punishment.

Unless he later wins a reduced sentence, Madoff will spend the rest of his life behind bars because federal inmates are not eligible for parole.

"Here the message must be sent that Mr. Madoff's crimes were extraordinarily evil and that this kind of manipulation of the system is not just a bloodless crime that takes place on paper, but one instead that takes a staggering toll," Chin said.

The judge said the estimate that Madoff has cost his victims more than $13 billion was conservative because it did not include money from feeder funds.

"Objectively speaking, the fraud here was staggering," he said.

Prosecutor Lisa Baroni said Madoff deserved a life sentence because he "stole ruthlessly and without remorse."

The jailed Madoff already has taken a severe financial hit: Last week, a judge issued a preliminary $171 billion forfeiture order stripping Madoff of all his personal property, including real estate, investments and $80 million in assets Ruth Madoff had claimed were hers. The order left her with $2.5 million.
The terms require the Madoffs to sell a $7 million Manhattan apartment where Ruth Madoff still lives. An $11 million estate in Palm Beach, Fla., a $4 million home on Long Island and a $2.2 million boat will be put on the market, as well.

Have fun with that $2.5 mill Ruth!!!! Really couldn't have happened to nicer people.....