.

Today was the day Bernie Madoff faced a federal judge to learn his fate.  Neither the judge nor fate was kind.  He received a 150-year prison term for what U.S. District Judge Denny Chin referred to as “extraordinarily evil” misdeeds.  Many of his victims, some one-time millionaires in their own right and others just looking for a way to stretch their nest eggs so carefully cultivated over a lifetime, took the opportunity to be sure the 71-year old crook understood exactly how his actions affected not only their lives, but those of their family members as well.

The gallery in the courtroom agreed with the judge’s sentence as applause erupted.  The judge also told Madoff and his lawyers that he’d received over 100 letters and emails, and not a single one was kind or supportive of Madoff.  Judge Chin said, “The absence of such support is telling”.

Nine victims chose to address Madoff in today’s hearing.  Some of the comments included Madoff being labeled a “monster” and an “evil low life”.  One victim said he stole money so he and his wife, Ruth, could live a life of luxury beyond belief. 

Since the federal prison system has offers no parole, Madoff will die in jail.  To date, there are thousands of victims - individuals, charities, celebrities and other businesses - who are out billions of dollars.  Many say this one Ponzi scheme is one of the reasons the American economy is in such dire straits.

Madoff did have a statement and chose to face those he scammed as he said his apologies, noting he knew it didn’t help. 

His wife released her first statement through her own lawyer that said, in part, “I am embarrassed and ashamed.  Like everyone else, I feel betrayed and confused.”  It can be read in its entirety here.  Still, she will spend the rest of her life with a 2 million-plus dollar nest egg while many of those victims are now being forced to move in with family members after having lost everything.

Maybe one of those victims said it best outside court, “He stole my money.  He didn’t steal my life.”