Madoff sentenced to 150 years in prison

Convicted financier Bernard Madoff was sentenced to 150 years in prison on Monday after pleading guilty to running the largest Ponzi scheme in history.

A federal judge in New York sided with prosecutors in the case, giving Madoff the maximum possible sentence in the case.

The sentence virtually guarantees that the 71-year-old Madoff will spend the rest of his life in prison.

Madoff pled guilty to running a $64 billion fraud in March, stealing billions from prominent individuals who’d invested in his fund.

Judges also ruled recently that Madoff’s remaining assets would be sold off to benefit those he defrauded, though that amount pales in comparison to the billions he lost.