Bernard Madoff exits Manhattan federal court in New York on Tuesday, March 10, 2009. Madoff will plead guilty Thursday to 11 felony counts including money laundering, perjury and securities fraud that carry a potential prison term of 150 years, his lawyer and prosecutors said Tuesday. (AP Photo/Louis Lanzano)
NEW YORK " Bernard Madoff has pleaded guilty to charges that he carried out an epic fraud that robbed investors worldwide of billions of dollars.
Thursday's plea means Madoff could be sentenced to 150 years in prison. It comes three months after he admitted that his once-revered investment fund was all a big lie " a Ponzi scheme in the billions of dollars.
The scam quickly turned the 70-year-old Madoff into one of the most vilified men in the world as thousands of investors came forward to say they were defrauded.