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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.
Madoff sentenced to 150 years. Federal judge gives maximum sentence to Ponzi mastermind following his apology and victims' request for life sentence. Bernard Madoff, shown here in his mug shot. At the MCC, Bernard Madoff is getting a taste of life behind bars. Did Bernard Madoff receive a fair sentence? NEW YORK (CNNMoney.com) -- A federal judge sentenced Bernard Madoff, the convicted mastermind of the largest and most sweeping Ponzi scheme ever, to the maximum sentence of 150 years in federal court Monday.