Frauster madoff gets 150 years

New york (CNNMoney.com) -- A national judge sentenced Bernard Madoff, 

the convict mastermind of the largest and most extensive Ponzi scheme ever, to the highest sentence of 150 years in federal court Monday.

Judge Denny Chin of U.S. District Court in New York announces the sentence just moments after Madoff apologized to his victims.

Chin said the maximum sentence was important for deterrence, and also for the victims.