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Updated 06/30/2009 12:40 PM

AP: 10 Madoff Associates To Be Charged

By: NY1 News

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Ten more people will likely be charged in connection with Bernard Madoff's Ponzi scheme, according to an Associated Press source.

The unnamed source says the 10 will likely be hit with federal charges in the coming months.

The federal Bureau of Prisons will decide in the coming weeks where Madoff will spend the rest of his life.

The 71-year-old disgraced financier was sentenced to 150 years in prison, meaning he could end up at one of two maximum security prisons in Pennsylvania.

In court yesterday, Madoff apologized to the victims of his multi-billion-dollar fraud.

Judge Denny Chin called Madoff's crimes "staggering" before imposing the maximum sentence.

His wife Ruth Madoff, who was not in court for the sentencing, said in a statement that like everyone else she "feels betrayed and confused."

She said, "The man who committed this horrible fraud is not the man whom I have known for all these years."

Madoff has also been ordered to give up $171 billion in proceeds and property.