As the investors he cheated applauded, Bernard Madoff was sent to prison. He may want to get used to his new surroundings, as his sentencing is June 16, and prison time for a massive Ponzi scheme seems likely. He faces up to 150 years. He acknowledged the 11 counts of fraud against him and said he was sorry. Reporters tailed him all day and victims were lined up two hours before the hearing was to begin.

There are still some big issues, notably this: Will anyone else be held responsible? Madoff accepted sole responsibility, and some think he's bent on protecting others. You have to wonder what prosecutors are planning. Could such a huge scam be possible without some co-conspirators? There has to be more to this story.

For more:
- here's the LA Times article

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