Business

Madoff Faces Sentencing Over Massive Ponzi Scheme

MarketWatch
Bernard Madoff will arrive at a Manhattan courthouse Monday to face sentencing for running the biggest Ponzi scheme in history. Madoff, whose former clients lost billions of dollars in a fraud lasting more than two decades, could be sentenced to a maximum of 150 years in prison at the hearing, which is due to begin at 10 a.m. U.S. Eastern Time. His lawyers, however, have reportedly sought a sentence of just 12 years, arguing that 71-year-old Madoff is expected to live only another 13 years.
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Posted by Editor at June 29, 2009 07:11 AM