Court sentenced founder of a financial pyramid to 150 years

The court of New York has sentenced the founder of the world’s largest of «a financial pyramid» Bernarda Medoffa to 150 years of imprisonment, transfers Reuters. It is the maximum term which threatened the former head of stock exchange Nasdaq who has created unprecedented in the history a financial pyramid in volume of 64,8 billion of dollars.

Lawyers, referring to old age of the defendant (71 year), asked court to sentence it to 12 years of imprisonment. The day before the federal court of the USA has confirmed confiscation of property of Medoffa for the sum of 170 billion dollars (under laws of the USA he is obliged to compensate the sum till the triple size of the caused damage).

Madoff earlier admitted court that within 20 years deceived investors and regulating bodies and that it did not make any transactions, and simply listed all means for the bank account, giving out from it means on request of clients in the form of «profit».

In the list of the deceived investors have appeared not only the most well-founded citizens of the USA and a celebrity, but also the largest world banks – BNP Paribas, HSBC, Credit Agricole, Societe Generale, Natixis, Nomura, Royal Bank of Scotland, UniCredit.