At Sentencing, Madoff Apologizes for Fraud Scheme

By: Tom Hays and Larry Neumeister AP Email
By: Tom Hays and Larry Neumeister AP Email

NEW YORK (AP) - Bernard Madoff has apologized to his family and
to the victims of his multibillion-dollar fraud scheme.

The 71-year-old financier said Monday at his sentencing that he "will live with this pain, this torment, for the rest of my life."

Madoff says that he dug himself "deeper into a hole" as the scheme progressed.

Attorney Ira Sorkin says the 150 years in prison recommended by
prosecutors or the 50 years recommended by the federal probation
department are excessive.

Victims who lost millions of dollars earlier urged a stiff sentence for the former Nasdaq stock market chairman.

Madoff has pleaded guilty to securities fraud and other charges in March and has been jailed ever since.


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