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Madoff To Spend The Rest Of His Life Behind Bars

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NEW YORK (AP) - Bernard Madoff has been sentenced to the maximum 150 years in prison for his multibillion-dollar fraud scheme.

U.S. District Judge Denny Chin handed down the sentence in New York on Monday.

Defense attorneys had sought 12 years, while prosecutors wanted the maximum. The federal probation department had recommended 50 years.

Chin called the fraud "staggering" and noted that it spanned more than 20 years. He says "the breach of trust was massive."

The 71-year-old former NASDAQ chairman pleaded guilty to securities fraud and other charges in March and has been jailed since.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

Story Created: Jun 29, 2009 at 10:27 AM PST

Story Updated: Jun 29, 2009 at 8:23 PM PST

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