- The Washington Times - Thursday, March 12, 2009

NEW YORK (AP) - Disgraced financier Bernard Madoff has been ordered to jail and escorted out of the courtroom after pleading guilty to 11 charges. A sentencing date of June 16 has been set.

Prosecutors had asked for him to be jailed immediately after he pleaded guilty Thursday to a worldwide financial swindle. They say he robbed investors of billions of dollars.

Madoff earlier told the judge he “cannot adequately express” how sorry he is.

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Madoff told the judge his Ponzi scheme began in the early 1990s in response to a recession.

Two investors who spoke at the hearing said they opposed the guilty plea. One said she wanted it to wait until the lost money is found.

Madoff did not look at the investors as they spoke.

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