In one of the highest-profile financial fraud cases in history, a judge firmly sided with Bernard Madoff’s thousands of victims when he gave the disgraced financier a sentence long enough for him to die in prison.

A person familiar with the investigation said 10 more people would face federal charges by the time the probe into the multibillion-dollar fraud is complete. So far, only Madoff and an accountant accused of failing to make basic auditing checks have been criminally charged.

The person, who spoke on condition of anonymity because the investigation is ongoing, wouldn’t detail potential charges or say whether the 10 would include Madoff’s family or former employees.

In court Monday, the 71-year-old Madoff said he alone orchestrated the massive Ponzi scheme. “How do you excuse lying to your brother and your two sons? How do you excuse lying and deceiving a wife who stood by you for 50 years and still does?”

Ira Lee Sorkin, Madoff’s attorney, told CBS’ The Early Show, that he assisted in helping his client craft his statement to the judge. Asked if Madoff acted alone, Sorkin said, “Absolutely.”

Madoff also admitted it was impossible for him to excuse deeds that U.S. District Judge Denny Chin noted had cost investors $13.2 billion by conservative estimates and $50 billion by the estimate Madoff gave his sons in December.

“I don’t ask any forgiveness,” Madoff told Chin. “Although I may not have intended harm, I did a great deal of harm.”

Later, he turned around to look at the victims lining the first row of the gallery.

“I will turn and face you,” he said mechanically. “I’m sorry. I know that doesn’t help you.”

The judge then took his turn.

“This is not just a matter of money,” Chin said. “The breach of trust was massive. Investors – individuals, charities, pension funds, institutional clients – were repeatedly lied to, as they were told their monies would be invested in stocks when they were not.”

Madoff received the maximum term for the massive Ponzi scheme run at least since the early 1990s that demolished the life savings of thousands of people, wrecked charities and shook confidence in the U.S. financial system.

Chin dismissed Madoff’s pleas for leniency, noting that Madoff made substantial loans to family members, including moving $15 million of his company’s money into his wife’s personal accounts as it became clear that the scheme was unraveling.

“I simply do not get the sense that Mr. Madoff has done all that he could or told all that he knows,” Chin said.

“Here, the message must be sent that Mr. Madoff’s crimes were extraordinarily evil and that this kind of irresponsible manipulation of the system is not merely a bloodless financial crime that takes place just on paper, but it is instead … one that takes a staggering human toll,” Chin said.

He noted the pain of more than 100 investors – several of whom whooped and cheered in court when he was sentenced – who had urged Madoff be sent to prison for life.

Madoff, looking thinner than his last court appearance in March, gave no noticeable reaction when the sentence was announced.

(Source: WCBSTV)