Madoff Pleaded Guilty

Bernie Madoff pleaded guilty today to pulling off what could be the biggest, most spectacular swindle Wall Street has even seen, and was sent off to jail in handcuffs to the applause of his furious victims.

"I realized that my arrest and this day would inevitably come," Madoff said in a courtroom crammed with many of the investors he cheated out of billions of dollars.

The 70-year-old financier could get up to 150 years in prison at sentencing June 16 on 11 counts, including securities fraud and perjury. He could also be fined and ordered to pay restitution to his victims and forfeit any ill-gotten gains.

*****

The first of many to follow ...