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When Judge Denny Chin announced the 150-year sentence, the courtroom exploded in applause. Victims of Bernard Madoff who had watched the entire proceedings, some of them who had actually addressed the court relieved that the Judge had decided to give Bernard Madoff the maximum.
The Judge said in court, "The fraud here was staggering. It's off the charts." "The breach of trust, "he said, "was massive." And the Judge said that he wanted to give the maximum not only because of deterrence, punishment, but also for the victims.
The Judge specifically spoke of one woman who had written him a letter. The woman had visited Bernard Madoff two weeks after her husband had died. And Bernard Madoff put his arm around the woman and said:" Don't worry. Your money is safe with me."
Bernard Madoff in an address in the court said, "I can not offer you an excuse for my behavior," he said that he lives in a tormented state "knowing all the pain and suffering I've created." And at the end of his statement, he turned to everyone and said:"I’m sorry. I know that will not help you." And indeed, victims say that apology rings hollow for them.
For cnnMoney. com, I'm Allan Chernoff.
Vocabulary:
1. staggering: Causing great astonishment, amazement, or dismay; overwhelming
2. off the charts: Extrodinarily out of the norm; beyond expectation
3. deterrence: the inhibition of criminal behavior by fear especially of punishment
4. tormented: anguished: experiencing intense pain especially mental pain
5. hollow: words, events, or people that are hollow have no real worth or value