Wall Street scoundrel Bernie Madoff has been sentenced to 150 years in prison for perpetrating one of the biggest financial frauds in history.

NEW YORK – Convicted swindler Bernard Madoff was sentenced to 150 years in prison Monday for fraud so extensive that the judge said he needed to send a symbolic message to those who might imitate his fraud and to victims who need relief.

Applause broke out in the crowded Manhattan courtroom after U.S. District Judge Denny Chin issued the maximum sentence to the 71-year-old defendant, who said he sought no forgiveness and knew he must live “with this pain, this torment, for the rest of my life.”