US prosecutors seek 150-year sentence for Madoff
Madoff pleaded guilty to securities fraud and other charges in March and has been in jail since.
By Agencies |
NEW YORK: Federal prosecutors in Manhattan want Bernard Madoff to be sentenced to 150 years in prison.
The disgraced financier is due in court on Monday for sentencing in his massive fraud case.
Federal prosecutors say in court papers filed Friday that sentencing guidelines require a 150-year term. They said any lesser sentence should still make sure he's behind bars for life.
Madoff's lawyer has said his client should serve only 12 years. The 71-year-old former Nasdaq chairman was arrested late last year after telling his sons that his secretive investment advisory business was a giant Ponzi scheme.
He pleaded guilty to securities fraud and other charges in March and has been in jail since.
The disgraced financier is due in court on Monday for sentencing in his massive fraud case.
Federal prosecutors say in court papers filed Friday that sentencing guidelines require a 150-year term. They said any lesser sentence should still make sure he's behind bars for life.
Madoff's lawyer has said his client should serve only 12 years. The 71-year-old former Nasdaq chairman was arrested late last year after telling his sons that his secretive investment advisory business was a giant Ponzi scheme.
He pleaded guilty to securities fraud and other charges in March and has been in jail since.
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