Pizzas galore!

16.25 BST Madoff apologised in court to the victims of the massive investment scam, saying he would have to “live with this pain, this torment for the rest of my life."

16.05 BST Madoff, seated next to his lawyers, lowered his eyes as impact statements were read and those affected told their stories of financial ruin.

15.59 BST Michael Schwartz, crying in court, who invested in the scheme to help his brother said: "My trust fund wasn't for a house in the Hamptons, a yacht or Mets seats. Part of that money was for my brother who is mentally disabled ... His jail cell should become his coffin."

15.54 BST Carla Hirshhorn who was caught by the scam, tells the court: "Life has been a living hell. It feels like the nightmare we can't wake from."

15.47 BST U.S. District Judge Denny Chin says the federal probation department recommends that Bernard Madoff get 50 years in prison for a multibillion-dollar fraud scheme

15.37 BST Tom Fitzmaurice, who lost money with Madoff says the fraudster stole from the rich, the poor and the “in between. He had no values.” He says, thanks to Madoff's fraud, “my life will never be the same.”

15.35 BST Mr Ambrosino calls the fraud an “indescribably heinous crime" he says he has no credit because of the scheme and can’t get a mortgage.

15.29 BST Maureen Ebel, another of the fraudster's victims told the court: “I have lost all of my life’s hard-earned savings. I have lost the home my husband and I had owned for 25 years because of this theft. I have lost the ability to care for myself in this old age.”

15.27 BST Donald Ambrosino, a retired New York City corrections officer is the first victim to speak. "How could someone do this to us?” he said "We worked honestly and so hard.”

15.15 BST Madoff is wearing a dark suit, white shirt and a tie and sitting at a wooden table, surrounded by his lawyers. Prosecutors are positioned opposite them, and the viewing gallery is packed with spectators.

15.05 BST Emma Devita, 81, who saved for 20 years with Madoff, and was outside the courthouse to see him sentenced today said: “I don’t care what they do with him. I don’t care if they turn him loose. Just get us back our money."

15.00 BST Bernard Madoff enters the court as his sentencing begins. Impact statements from some of the 13,000 victims of his $65billion fraud will be read before the judge comes to his conclusion.

14.25 BST Hundreds of spectators arrive at the federal court in New York to witness the sentencing.

14.15 BST Dozens of victims of Madoff's fraud that lasted decades lined up outside the courthouse along with scores of journalists in anticipation of the sentencing.

14.12 BST Madoff, 71, is likely to be sentenced to between 12 to 150 years in prison. His defense lawyer has said 12 years would be enough -citing the 13 year life expectancy of his client. Prosecutors have asked that Madoff spend the rest of his life behind bars.

Judge Denny Chin will decide after 10 victims, Madoff and lawyers on both sides have an opportunity to address the court. The sentencing begins at 15.00BST.

Madoff pleaded guilty in March this year to securities fraud, mail fraud, wire fraud, investment adviser fraud, three counts of money laundering, false statements, perjury, false filings and theft from an employee benefit plan. Madoff, who didn’t have a plea deal with prosecutors, will be sentenced separately on each count today.

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