REUTERSBernard Madoff's criminal defense counsel requested the court to sentence Wall Street's Ponzi King to a punishment of less than life in prison, saying the court should not give in to the "mob vengeance" sought by those he defrauded, Reuters news service is reporting.
Madoff, 71, pleaded guilty in earlier this year to operating a Ponzi scheme that cheated investors (many who had invested their entire life savings) out of an estimated $65 billion over two decades.
The maximum sentence on all 11 charges, including securities fraud and money laundering, adds up to 150 years in prison—a far cry from the 12 year wrist slap sought by the Ponzi King’s lawyer.
No comments:
Post a Comment