NEW YORK — A federal judge rejected Bernard Madoff’s plea for leniency Monday, sentencing the 71-year-old swindler to spend the rest of his life in prison for an “extraordinarily evil” fraud that took a staggering toll on thousands of victims.

U.S. District Judge Denny Chin cited the unprecedented nature of the multibillion-dollar fraud as he sentenced Madoff to the maximum of 150 years in prison, a term comparable only to those given in the past to terrorists, traitors and the most violent criminals. There is no parole in federal prison so Madoff will most likely die there.

“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.

“They are trying to send a message about this type of criminal behavior,” said Bernard Weinstein, director of the Center for Economic and Development Research at the University of North Texas in Denton.

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

Madoff said he didn’t know if the verdict would have a long-term impact on the financial market, but he believes there will be more verdicts like this, citing the R. Allen Stanford case going on now in Texas.

“I think the sentence was clearly deserved and designed to send a message,” Weinstein said.

Only Madoff and an accountant accused of failing to make basic auditing checks have faced criminal charges. But a person familiar with the investigation said Monday that at least 10 more people are likely to face federal charges by the time the probe is complete. The person, who spoke on condition of anonymity because the investigation is ongoing, wouldn’t detail the likely charges against the others or say whether they would include Madoff’s family or former employees.

Madoff’s 150-year sentence reflected a growing tendency over the last decade to give white-collar criminals lengthy prison terms — although a handful of cases have received even longer terms.

Rick Woolfolk, a Denton broker, said, “I think it is appropriate that crooks who steal money go to jail.”

Woolfolk said such cases make investors second-guess their decisions.

“It makes it tough when you are trying to make legitimate investments for people,” he said.

The outcome in Madoff’s trial prompted scattered applause and whoops from a group of former clients in a packed Manhattan courtroom.

The judge noted that not one of the more than 100 letters he received supported Madoff or described any good deeds he had done.

“The absence of such support is telling,” Chin said.

Madoff gave no noticeable reaction when the sentence was announced.

He also showed no emotion as nine victims spent nearly an hour venting their despair and anger. Some openly wept or raised their voices, labeling Madoff a “monster,” “a true beast” and an “evil low-life.”

“Life has been a living hell. It feels like the nightmare we can’t wake from,” said Carla Hirshhorn.

Dominic Ambrosino called it an “indescribably heinous crime” and urged a long prison sentence so he “will know he is imprisoned in much the same way he imprisoned us and others.”

He added: “In a sense, I would like somebody in the court today to tell me how long is my sentence.”

Sheryl Weinstein, a certified accountant, said Madoff was effective because he seemed normal.

“But underneath the facade is a true beast,” she said. “He should not be given the opportunity to blend so seamlessly into our society again.”

When asked by the judge whether he had anything to say, Madoff referred to his monumental fraud as a “problem,” “an error of judgment” and “a tragic mistake.”

He claimed he and his wife were tormented, saying she “cries herself to sleep every night, knowing all the pain and suffering I have caused,” he said.

He then finally looked 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.”

Denton Record-Chronicle staff writer Rachel Mehlhaff contributed to this report.