Finally, disgraced Wall Street investor Bernie Madoff’s bail was revoked. U.S. District Judge Denny Chin denied bail for Madoff, 70, and ordered him to jail, noting that he had the means to flee and an incentive to do so because of his age.

Madoff spoke softly but firmly to the judge as he pleaded guilty to 11 charges in his first public comments about his crimes since the scandal broke in early December.

“I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed,” he said. As the years went by, I realized my risk and this day would inevitably come. I cannot adequately express how sorry I am for my crimes.”

DeWitt Baker, an investor who says he lost more than a million dollars with Madoff, called it “fantastic” that Madoff’s bail was revoked but brushed off the apology.

“I don’t think he has a sincere bone in his body,” said DeWitt, who noted that prison time would be too good for Madoff.I’d stone him to death,” he said.

I wonder if Madoff will serve his time at Club Fed? He’s obviously very sorry for getting caught and having his two sons turn him into the FBI. Madoff  who faces 150 years in prison,  is expected to spend the rest of his life in jail. The big question is what will happen to his $7 million dollar penthouse and the $62 million his wife has stashed away? Only time will tell.