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Madoff jailed after guilty plea

US financier Bernard Madoff has been jailed after pleading guilty to 11 charges surrounding his $50bn fraud.

Madoff could receive up to 150 years when he is sentenced in June.

Some of his victims have been angered that Madoff has been allowed to plea guilty, given that he will avoid a full jury trial.

Madoff estimates the fraud to be up to $50bn with only $1bn recovered so far.

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