NEW YORK - Bernard Madoff pleaded guilty Thursday to all 11 felony charges brought by prosecutors in one of Wall Street’s largest investment swindles, telling the court he is “deeply sorry and ashamed” for his actions.

U.S. District Judge Denny Chin accepted Madoff’s guilty plea and ordered him to jail until his sentencing takes place June 16, saying the 70-year-old has the means to flee and an incentive to do so because of his age. Applause broke out in the Manhattan courtroom after the judge’s announcement. Madoff’s crimes could result in a maximum prison term of 150 years.

Madoff’s guilty plea marks the first time he has spoken publicly about the charges against him. Reading a statement in the courtroom, Madoff admitted he began operating a giant Ponzi scheme in the early 1990s. He said he knowingly gave false testimony under oath to securities regulators and concealed his fraud by submitting audited reports to the SEC.