Applause broke out in a Manhattan courtroom today when a judge denied admitted Ponzi scheme operator Bernard Madoff's request to return to his luxury penthouse, and instead ordered him handcuffed and taken straight to jail. Madoff pled guilty to 11 felony counts Thursday including securities fraud, mail fraud, wire fraud, money laundering, and perjury. He faces a 150 year sentence.
"For many years up until my arrest I operated a Ponzi scheme," Madoff told the court. "When I began I thought it...Full Story