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March 12th, 2009

Ex-financier Madoff pleads guilty to all charges

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Written by: The Iowa Republican

Bernard MadoffNEW YORK – Bernard Madoff pleaded guilty Thursday to all 11 felony charges brought by prosecutors in one of Wall Street’s largest investment swindles, telling the court he is “deeply sorry and ashamed” for his actions.

“I cannot adequately express how sorry I am for what I have done,” he added, admitting that for many years he had operated a Ponzi scheme.

The guilty plea ends a half-century career that saw him rise to Nasdaq chairman and one of Wall Street’s elite, and it could result in a maximum prison term of 150 years.

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