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Madoff Scandal: The Final Minions Meet Their Fate. After more than six years and 15 convictions, the Bernie Madoff Ponzi scheme, which cost his investors an estimated $50 billion, is finally coming to close. Continue Reading Below.
On March 12, 2009, Madoff pleaded guilty to all eleven counts in the Information. On June 29, 2009, Madoff was sentenced by Judge Chin to a term of imprisonment of 150 years. United States v. Frank DiPascali, Jr., 09 Cr. 764 (RJS), assigned to United States District Judge Richard J. Sullivan.