From Breaking News Desk: PEOPLE CHEERING AND APPLAUDING INSIDE A NYC COURTROOM WHEN MOMENTS AGO... Ponzi Schemer Bernard Madoff pleaded guilty to 13 counts of felonious money laundering and other charges pertaining to a scheme that emptied the retirement accounts of thousands of people to the tune of $50 Billion dollars.

As soon as he entered his plea today with a judge in a Manhattan courtroom... some of victims got to speak... then, the prosecutors asked for immediate jail for Madoff. And, they got it.

They reportedly are taking him through underground tunnels to a NYC Corrections Center. No more $7 million apartment for him!

Among his victims: Actors John Malkovich, Kyra Sedgwick, Kevin Bacon... Holocaust survivor Eli Viesel and more.

Madoff's facing 150 years in prison... his sentencing hearing is set for June 16th.

Picture here is from Madoff arriving to court this morning-- for the last time as a free man.

H-out