By LARRY NEUMEISTER and TOM HAYS, Associated Press Writers
Excerpt:
Saying he was “deeply sorry and ashamed,” Bernard Madoff pleaded guilty Thursday to pulling off perhaps the biggest swindle in Wall Street history and was immediately led off to jail in handcuffs to the applause of his seething victims in the courtroom.
U.S. District Judge Denny Chin denied bail for Madoff, 70, and ordered him to jail, noting that he had the means to flee and an incentive to do so because of his age.
Madoff earlier spoke softly but firmly to the judge as he pleaded guilty to 11 charges in his first public comments about his crimes since the scandal broke in early December.
“I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed,” he said.
