Ponzi Mastermind Madoff Sentenced to 150 Years for Fraud

(AP) - Bernard Madoff has been sentenced to the maximum 150 years in prison for his multibillion-dollar fraud scheme. U.S. District Judge Denny Chin handed down the sentence in New York on Monday. Defense attorneys had sought 12 years, while prosecutors wanted the maximum. The federal probation department had recommended 50 years. Chin called the fraud "staggering" and noted that it spanned more than 20 years. He says "the breach of trust was massive."