Madoff pleads guilty to 11 charges

From CNNMoney.com:

NEW YORK (CNNMoney.com) — Bernard Madoff, who stole billions from investment clients, was ordered jailed Thursday after pleading guilty to all 11 criminal counts in one of Wall Street’s biggest swindles ever.

“I operated a Ponzi scheme,” said Madoff to the packed courtroom, after U.S. District Judge Denny Chin told him to explain his crimes.

“I thought it would end quickly, but it proved impossible,” said Madoff, who stole from more than 4,000 victims through his investment firm. “I am ashamed for these criminal acts. I always knew this day would come.”

U.S. District Court Judge Denny Chin remanded the 70-year-old to jail following his confession.

Well. Everyone gets theirs in the end.

From Gothamist:

Bernard Madoff, extreme Ponzi scheme mastermind, arrived at the U.S. District Court this morning around 7 a.m. (video from MyFoxNY —Madoff was transported in a Silver Kia below). He is expected to plead guilty to 11 criminal charges (PDF) related to a $64.8 billion investment fraud involving thousands in the U.S. and overseas. The hearing will not start until 11 a.m.

There he was, and off he goes. Not that it’ll bring all the money back or anything…