Bernard Madoff Charged With 11 Criminal Counts and Ready to Live In Jail for the Rest of His Life
Bernard Madoff’s lawyer said in court that his client is expected to plead guilty on Thursday. Bernard Madoff sharged with eleven criminal counts and this can bring him to live in jail for the rest of his life.
The new information came from the U.S. prosecutors. They said that the crimes were lasted from at least 1980. Bernard Madoff is the former Nasdaq stock market chairman and money manager.
Acting U.S. Attorney Lev Dassin in Manhattan said that the charges reflect an extraordinary array of crimes committed by Bernard Madoff for over 20 years. While the alleged crimes are not novel, the size and scope of Mr. Madoff’s fraud are unprecedented.
The list of Madoff charged according to the court documents are securities fraud, mail fraud, wire fraud, three counts of money laundering, making false statements and perjury among other charges. Can you believe that? Bernard Madoff faces up to 150 years imprisonment.
Meanwhile the prosecutors said that no one else has been charged since Madoff was arrested three months ago and the investigation is continuing. In the court document, the government said that it wants Madoff to forfeit all of the money and property that can be traced back to the alleged fraud.
Madoff’s lawyer said that they respectfully suggest that the amount of the government’s forfeiture demand is grossly overstated and misleading even for a case of this magnitude. It added that the purpose of the letter is not to minimize Mr. Madoff’s culpability.
