Under the halo of the former Nasdaq chairman, Madoff defrauded investors of 5 billion US dollars. Madoff is now 71 years old and was the former chairman of the board of directors of the Nasdaq Stock Market Inc. The "Ponzi scheme" he created may involve losses as high as tens of billions of US dollars. The judge pointed out in the verdict that Madoff's actions were "staggering," and his crimes over the past 20 years have greatly undermined investor confidence, therefore he must be severely punished.
Decoding Madoff's Ponzi Scheme: Madoff Sentenced to 150 Years in Prison (Video)
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Ponzi, Madoff, Video, Scam, Imprisonment