A US federal judge rejected Bernard Madoff's plea for leniency on Monday, sentencing the 71-year-old swindler to spend the rest of his life in prison for an "extraordinarily evil" fraud that took a staggering toll on thousands of victims.

US District Judge Denny Chin cited the unprecedented nature of the multibillion-dollar fraud as he sentenced Madoff to the maximum of 150 years in prison, a term comparable only to those given in the past to terrorists, traitors and the most violent criminals. There is no parole in federal prison so Madoff will most likely die there, the Associated Press reported.

"Here, the message must be sent that Mr. Madoff's crimes were extraordinarily evil and that this kind of irresponsible manipulation of the system is not merely a bloodless financial crime that takes place just on paper, but it is instead one that takes a staggering human toll," Chin said.

The massive Ponzi scheme run by Madoff since at least the early 1990s demolished the life savings of thousands of people, wrecked charities and shook confidence in the US financial system. The actual loss so far has been put at US$13.2 billion.

Chin announced the sentence with Madoff standing at the defense table, wearing a dark suit, a white shirt and a tie and looking thinner than he did at his last court appearance in March. He gave no noticeable reaction when the sentence was announced.

He also showed no emotion though he looked down earlier in the hearing as he listened to nine victims spend nearly an hour venting their despair and anger. Some openly wept or raised their voices, labeling Madoff a "monster," "a true beast" and an "evil low-life."

By People’s Daily Online