Madoff "Deeply Sorry And Ashamed"

In court statement, swindler apologizes for massive Ponzi scheme

View Document

Madoff "Deeply Sorry And Ashamed"

MARCH 12--Here's the statement Bernard Madoff read this morning in federal court as he pleaded guilty to orchestrating a massive Ponzi scheme.

Madoff, 70, claimed that he was 'actually grateful for this first opportunity to publicly speak about my crimes, for which I am so deeply sorry and ashamed.'

After Madoff copped to 11 felony counts, U.S. District Court Judge Denny Chin revoked the swindler's bail and ordered him jailed at Manhattan's Metropolitan Correctional Center. Prosecutors have accused Madoff of running a decades-long scam that bilked investors of more than $50 billion.

Madoff is scheduled to be sentenced on June 16 and faces up to 150 years in prison. (6 pages)