Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Madoff Asks for Leniency in Sentencing

Bernie Madoff's attorney today asked for leniency for his client at his June 29 sentencing, saying the 71-year-old confessed Ponzi schemer should not spend the rest of his life in prison.

In a letter filed in Manhattan federal court, Madoff attorney Ira Sorkin said that his client should get only 12 years in the pen because he has been cooperating with federal investigators who are attempting to recoup much of the $65 billion Madoff said he swindled from investors. Madoff faces up to 150 years in prison after pleading guilty to fraud in March.

In the letter to U.S. District Judge Denny Chin, Sorkin said Madoff has a life expectancy of 13 years. He also said that Madoff will speak at his sentencing.

"At sentencing, Mr. Madoff will speak to the shame he has felt and to the pain he has caused." Sorkin wrote, adding that he and Madoff have received "shocking" death threats and anti-Semitic e-mails.

Prosecutors have so far found 1,341 of Madoff's investors who lost more than $13 billion. The bulk of the money Madoff said he swindled remains unfound, the big mystery of this case.

"We believe that the unified tone of the victim statements suggests a desire for a type of mob vengeance that, if countenanced here, would negate and render meaningless the role of the court," Sorkin said.

-- Frank Ahrens
Sign up to get The Ticker on Twitter

By Frank Ahrens  |  June 23, 2009; 10:47 AM ET
Categories:  The Ticker  | Tags: Bernie Madoff  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Existing Home Sales Rise Tepidly In May
Next: Government Finally Doles Out Original Aid to U.S. Automakers

Comments

Awww, he didn't mean any harm by it.

Just write him a letter telling him to Promise Not to Do It Anymore, and that should suffice.
.

Posted by: T-Prop | June 23, 2009 1:39 PM | Report abuse

More people charged in the Madoff scheme: http://www.newsinferno.com/archives/7132

Posted by: muckraker462 | June 24, 2009 9:20 AM | Report abuse

If Madoff were truly remorseful, he would provide information about what he did with the money. Maybe he plans on splitting what's left with his lawyer, at the end of a 12 year sentence.

Posted by: Lassie84 | June 25, 2009 10:49 PM | Report abuse

People taking quick payouts after they realized there were duped by Madoff are now having second thoughts: http://www.newsinferno.com/archives/7319

Posted by: muckraker462 | June 26, 2009 1:51 PM | Report abuse

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company