From: WSJ.com: Law Blog
Ponzi schemer Bernard Madoff, who is serving a 150-year sentence in
a federal prison in Butner, N.C., is now housed in a low-security
medical center at the prison.
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Madoff Hit With 150-Year Prison Sentence
Bernard Madoff, the once trusted money manager whose multibillion
dollar Ponzi scheme turned him into a symbol of Wall Street greed,
will find out how long he's going to prison for today. "The sheer
scale of the fraud calls for severe punishment," say prosecutors,
who are pushing for a 150-year sentence.
Madoff to Learn Prison Sentence Today
Bernard Madoff, the once trusted money manager whose multibillion
dollar Ponzi scheme turned him into a symbol of Wall Street greed,
will find out how long he's going to prison for today. "The sheer
scale of the fraud calls for severe punishment," say prosecutors,
who are pushing for a 150-year sentence.
Where Is Bernie Madoff Still a Hero? Prison
(June 6) -- Bernard Madoff may wear the same standard-issue khakis
as the other inmates at North Carolina's Butner Federal
Correctional Complex, but to them, he isn't just prisoner No.
61727-054. The $65 billion Ponzi schemer is considered a hero and a
celebrity among fellow convicts, solicited for autographs and
business advice, New York magazine reports in a new feature story
on newsstands Monday.
Convicted Ponzi-Schemer Madoff To Learn Fate Monday
Convicted Ponzi-scheme operator Bernard Madoff will learn Monday
morning whether he'll spend the rest of his life behind bars for
running a decades-long swindle that bilked thousands of investors
out of billions of dollars. Madoff, who admitted in March to
orchestrating one of the largest and longest-running white-collar
frauds in recent memory, is set to be sentenced at a hearing before
U.S. District Judge Denny Chin in Manhattan at 10 a.m. EDT Monday.
Prosecutors from the U.S. Attorney's office in Manhattan have asked
for the statutory maximum of 150 years or a sentence that will
effectively guarantee the 71-year-old Madoff spends the rest of his
life in prison. "He engaged in wholesale fraud for more than a
generation; his so-called 'investment advisory' business was a
fraud; his fraud...
Bernard Madoff gets maximum 150 years in prison
Bernard Madoff has been sentenced to the maximum 150 years in
prison for his multibillion-dollar fraud scheme. U.S. District
Judge Denny Chin handed down the sentence in New York on Monday.
Defense attorneys had sought 12 years, while prosecutors wanted the
maximum. The federal probation department had recommended 50 years.
Chin called the fraud "staggering" and noted that it spanned more
than 20 years. He says "the breach of trust was massive."The
71-year-old former Nasdaq chairman pleaded guilty to securities
fraud and other charges in March and has been jailed since.
