Madoff Attorney: My Client Feels Remorse

Bernard Madoff has always felt badly for the victims of his billion-dollar Ponzi scheme, the convicted swindler's attorney told CBS News' "The Early Show" Tuesday.

"He has expressed remorse from day one," Ira Lee Sorkin said, adding, "he's never been articulate about it."

Madoff received a 150-year prison sentence Monday for his massive fraud, a penalty that Sorkin said was a "death sentence" for his 71-year-old client.

"I don't ask any forgiveness," Madoff told the judge Monday. "Although I may not have intended harm, I did a great deal of harm."

He then addressed some of his victims: "I'm sorry.I know that doesn't help you."

U.S. District Judge Denny Chin, however, was unmoved. "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 is believed to have defrauded investors of at least $13.2 billion by conservative estimates.

Complete Bernard Madoff coverage:

10 More To Be Charged, Source Says
Madoff Feels Remorse, Lawyer Says
Madoff Sentenced To 150 Years In Prison
Ruth Madoff: "Embarrassed And Ashamed"
Madoff's Fraud: A Family Affair?
Transcript of Madoff Sentencing
Analysis: 150-Year Sentence "Grossly Unfair"
Court Sketches: Madoff Sentencing


Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App