Prosecutors asked a federal judge on Friday to sentence convicted Ponzi scheme operator Bernard Madoff to a prison term in which he will spend the rest of his life behind bars. In a court document filed Friday, prosecutors from the U.S. Attorney's office in Manhattan asked U.S. District Judge Denny Chin to sentence Madoff to the statutory maximum of 150 years in prison, saying the scope, nature and duration of Madoff's decades-long fraud make him "exceptionally deserving of the maximum punishment allowed by law." In the alternative, he should be sentenced to "a term of years that both would
assure that Madoff will remain in prison for life," prosecutors said. "These criminal acts caused billions of dollars of losses to investors, drove many individuals and charitable organizations to economic collapse or near collapse, and visited especially significant non-economic, emotional damage on many of Madoff's victims," said Assistant U.S. Attorneys Marc Litt and Lisa A. Baroni. Sentencing is set for Monday. Earlier this week, Ira Sorkin, Madoff's lawyer, asked that Madoff be sentenced to as little as 12 years in prison, citing the 71-year-old's life expectancy of about 13 years. "A prison term of 12 years - just short of an effective life sentence - will sufficiently address the goals of deterrence, protecting the public and promoting respect for the law without being 'greater than necessary' to achieve them," Sorkin said. In the alternative, Sorkin asked that his client be sentenced to 15 years to 20 years in prison. Sorkin declined comment late Friday. In their submission Friday, prosecutors rejected the idea of a 12-year sentence for Madoff. The guidelines range for a typical securities fraud case involving losses of less than $20 million is 11 years to 14 years in prison.
assure that Madoff will remain in prison for life," prosecutors said. "These criminal acts caused billions of dollars of losses to investors, drove many individuals and charitable organizations to economic collapse or near collapse, and visited especially significant non-economic, emotional damage on many of Madoff's victims," said Assistant U.S. Attorneys Marc Litt and Lisa A. Baroni. Sentencing is set for Monday. Earlier this week, Ira Sorkin, Madoff's lawyer, asked that Madoff be sentenced to as little as 12 years in prison, citing the 71-year-old's life expectancy of about 13 years. "A prison term of 12 years - just short of an effective life sentence - will sufficiently address the goals of deterrence, protecting the public and promoting respect for the law without being 'greater than necessary' to achieve them," Sorkin said. In the alternative, Sorkin asked that his client be sentenced to 15 years to 20 years in prison. Sorkin declined comment late Friday. In their submission Friday, prosecutors rejected the idea of a 12-year sentence for Madoff. The guidelines range for a typical securities fraud case involving losses of less than $20 million is 11 years to 14 years in prison.For further details visit at:online.wsj.com/article/BT-CO-20090626-716716.html
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