Word: plea
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...maze for accountants and their Ponzi-victim clients. At a hearing yesterday, Madoff pleaded guilty to his decades-long crime, was handcuffed and ordered to jail. Sentencing is scheduled for June, but he could potentially be sentenced to 150 years on 11 counts. (Read "The Madoff Hearing: A Guilty Plea, but No Catharsis...
...members of my family, my closest friends, business associates and the thousands of clients who gave me their money. I cannot adequately express how sorry I am for what I have done. I am here today to accept responsibility for my crimes by pleading guilty and, with this plea allocution, explain the means by which I carried out and concealed my fraud...
...After Madoff's guilty plea, Judge Chin, citing flight risk, denied bail, sending Madoff to jail immediately. The charges against him could result in a sentence of up to 150 years in prison. He will face sentencing June...
Although there is a mountain of evidence and plenty of victims in this case, a guilty plea would save a lot of time and money for the government, according to Kirshner. But still, she said, assistant U.S. Attorney Marc Litt will want to "know the method of the crime, how it went undetected, where the money went, where it's hidden, if any, and who's involved...
Without a plea deal, Litt is free to pursue other people who may have been involved in the crime, including Madoff's family members and associates. Madoff has already forfeited millions of dollars from his company and personal assets, including homes, boats, planes and artwork. His wife Ruth Madoff is fighting to keep the penthouse and some $62 million in other assets, claiming they are not part of her husband's property...