The men who carried out the murder are already serving life sentences.
Before the sentence was imposed, Schockner suggested that police could have stopped his estranged wife, Lynn, from being stabbed to death on Nov. 8, 2004, at her home in the Bixby Knolls area of Long Beach.
"Had they followed proper procedures, my wife would be alive today," Schockner said, after complaining that he had not received adequate medical treatment while behind bars.
Long Beach Superior Court Judge Gary Ferrari countered, "This case is all about you. It's all about your insatiable greed. You could have walked away from that marriage a millionaire. You had to have it all, so you had your wife's throat slit, and, just as bad, you made your son an orphan.
"You, sir, are a disgusting human being and you deserve every single day you are going to serve in this case," the judge told Schockner, noting later that the money the defendant strived to keep is not going to do him any good now.
The judge denied the defense's request for a new trial. Defense attorney Jack Stennett contended that there was insufficient evidence presented to show that Schockner paid anyone to have his estranged wife killed.
The eight-man, four-woman jury that convicted Schockner of first-degree murder on Sept. 7 also found true the special circumstance allegation that Lynn Schockner was killed for financial gain.
Deputy District Attorney Cynthia Barnes told the panel that Schockner wanted to avoid having to split at least $3.5 million in community property with his estranged wife.
Schockner was the last of three men to go on trial for the slaying, which occurred on a backyard patio as Long Beach police waited outside the victim's front door to get a back gate key so they could investigate a neighbor's call about a prowler.
Nicholas Alexander Harvey, who was arrested at the scene after he jumped over a fence and into the path of waiting officers, told police he was offered $5,000 to kill the woman and stage a burglary. He was convicted of first-degree murder and sentenced in April to life in prison without the possibility of parole.
Frankie Jaramillo, who the prosecutor said played the role of middleman between Schockner and Harvey, was also convicted of first-degree murder and sentenced in June to life behind bars.
Schockner testified in his own defense and denied being involved in his estranged wife's killing.
Minutes after the jury's verdict was returned, the couple's teenage son, Charlie, stood up and told his father, "I disclaim all relations to you. I will never be your son."
In her closing argument, the prosecutor told jurors that Schockner stood to gain millions of dollars if his wife was dead, that he was the one who "masterminded" the plot to have her killed and that he left behind a "money trail."
Barnes said $50,000 given by Schockner to Jaramillo shortly before the killings was "clearly money to pay for the murders."
Phone records showed repeated calls between Schockner and Jaramillo and between Jaramillo and Harvey in the days leading up to the killing, the prosecutor told jurors.
Schockner's other attorney, Stanley Perlo, countered that Schockner had an "ongoing business relationship" with Jaramillo and that Schockner had loaned Jaramillo money as early as February 2003.
"Apparently he was conning Mr. Schockner," the defense attorney said of Jaramillo. "This guy, Jaramillo, sees Fred as his cash cow. Fred is now in the process of separation. The funds get tied up."
He suggested that Jaramillo was "the planner, the plotter" -- not the middleman -- and that Jaramillo on his own hired Harvey to kill the woman to get her out of the way or to burglarize her house to steal jewelry.
Schockner has been jailed without bail since his Dec. 3, 2004, arrest.
City News Service contributed to this report
