Madoff Pleads Guilty to All 11 Charges; Could Face Up to 150 Years in Prison- APBernard Madoff pleaded guilty Thursday to charges that he carried out an epic fraud that robbed investors around the world of billions of dollars, admitting he began operating a giant Ponzi scheme in the early 1990s in response to a recession. "I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed," he told U.S. District Judge Denny Chin.
He's already 70, so he'll have to live to age 220 to serve out this sentence. Maybe in prison he could start a hedge fund that invests in the fountain of youth.
