Bernard Madoff's $10 million bail was revoked and he was immediately sent to jail to await sentencing for his role in a $65 billion Ponzi scheme.

Madoff is scheduled to receive his sentence on June 16. He pled guilty today to 11 counts of theft, money laundering, fraud and perjury and faces up to 150 years in prison.

Judge Denny Chin said Madoff was a flight risk.

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