Madoff sentenced to 150 years

U.S. District Judge Denny Chin sentenced Bernard Madoff to 150 years after hearing from victims. Federal sentencing guidelines require the 71-year-old Madoff to serve at least 80 percent of that time, which means he would not be eligible for parole before 2129, making this sentence in essence a life sentence. His lawyer had asked for a lenient sentence of 12 years; prosecutors demanded a 150-year sentence.

The courtroom, as well as two overflow rooms where onlookers watched the proceedings on closed-circuit TV, were packed, according to reports on CNN. Nine victims were given opportunities to speak before the sentencing. "We implore you to give the maximum sentence at a maximum prison for this deplorable lowlife," one of the victims said, according to CNN. "This is a violent crime without a tangible weapon."