Prosecutors Ask for 150 Year Sentence for Bernard Madoff

June 26, 2009

(ChattahBox) — Earlier this week, the lawyer for Ponzi scheme operator Bernard Madoff, asked that he be sentenced to as little as 12 years in prison, citing the 71-year-old’s life expectancy of about 13 years.¬† While sentencing is set for Monday, prosecutors have responded with their own sentencing recommendation according to a Wall Street Journal report.

In the court document filed Friday, prosecutors from the U.S. Attorney’s office in Manhattan¬† asked a federal judge Denny Chin on Friday to sentence to sentence Madoff to the statutory maximum of 150 years in prison, because of the scope, nature and duration of Madoff’s decades-long fraud.¬† Any punishment handed out will not make up for the suffering he has caused, but Madoff doesn’t deserve hope of ever leaving prison alive.

Meanwhile Madoff will be required to forfeit up to $170 billion, eliminating his interest in all real estate, investments and other property, according to a ruling by judge Chin. Madoff’s apartment in Manhattan and houses in Palm Beach, Fla., and in Montauk on the east end of New York’s Long Island will be sold by U.S. marshals. Ruth Madoff will retain $2.5 million while giving up her claims to more than $80 million in assets under an agreement approved by Chin.

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One Response to “Prosecutors Ask for 150 Year Sentence for Bernard Madoff”

  1. Bernard Madoff News | Hot Web Trends on June 27th, 2009 8:30 am

    […] Prosecutors Ask for 150 Year Sentence for Bernard Madoff …(ChattahBox) — Earlier this week, the lawyer for Ponzi scheme operator Bernard Madoff, asked that he be sentenced to as little as 12 years in prison, citing. Read more […]

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