Thursday, March 12, 2009
Wall Street swindler Bernard Madoff faced his day of reckoning today when he was hauled off to prison in handcuffs after pleading guilty to the world’s biggest ever fraud.
Dressed in a sombre grey suit and tie, the fallen financier showed little emotion as he told a court how ‘deeply sorry and ashamed’ he was for orchestrating the £47 billion scam.
Speaking for the first time since his arrest three months ago, he said: ‘I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed.’
‘As the years went by, I realized my risk and that this day would inevitably come. I cannot adequately express how sorry I am for my crimes.’
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Avoiding the accusing stares of his victims in the public gallery, the grim-faced former chairman of the Nasdaq electronic stock exchange confessed: ‘I am painfully aware that I have deeply hurt many, many people.’
Applause erupted in the packed New York courtroom when Judge Denny Chin ordered Madoff to trade immediately his life of untold riches for a grim jail cell, rather than be released on bail until sentencing in June.
The disgraced investment tycoon had been living in his luxury £4 million Manhattan penthouse flat since his arrest in December.
Now, at the age of 70, he will almost certainly spend the rest of his life behind bars.
This article was posted: Thursday, March 12, 2009 at 1:22 pm