Tuesday, June 23, 2009

Madoff's lawyer asks for 12-year prison term

From the AP:

A lawyer for Bernard Madoff has told the judge who will sentence the disgraced financier that a prison term of 12 years would be fair.

Attorney Ira Sorkin says such a sentence will not disproportionately punish his client compared to other white collar criminals.

Federal Judge Denny Chin is scheduled to sentence Mr. Madoff next Monday.

The 71-year-old Madoff pleaded guilty March 12. He admitted operating a massive Ponzi scheme. He faces up to 150 years in prison.

Dozens of Mr. Madoff's victims have already urged the judge to make sure Mr. Madoff spends the rest of his life in prison.

Mr. Madoff has been jailed since pleading guilty to 11 felony counts including securities fraud and perjury.

Complete and utter outrage to ensue in 3...2...1... Sphere: Related Content

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