CNNMoney.com
Bernard Madoff, accused mastermind of a $50 billion financial fraud, is expected to plead guilty on Thursday to 11 criminal charges that could put him in jail for the rest of his life.
He was charged in court papers with securities fraud, mail fraud, wire fraud, three counts of money laundering, false statements and perjury among other charges. U.S. prosecutor Marc Litt said there was no plea agreement with Madoff, accused of bilking thousands of investors worldwide over many years.
The prosecutor told U.S. District Judge Denny Chin at a hearing that Madoff could face up to 150 years in prison under federal sentencing guidelines. The judge said he would sentence Madoff in several months in the event of a guilty plea.
| ,Barbara-Dalton Ga |
March 10th, 2009 5:30 pm ET He should get jail time, he knew from the start that what he was doing |
|
| Gilbert Martinez |
March 10th, 2009 5:53 pm ET Madoff is not going to jail for the rest of his life. He will plead a deal in which his family of wolves will be allowed to keep the ill gotten gains and at most spend two years in a federal jail/vacation resort. Then the politicians, media demegogs, and those people with a six grade education can go back to blaming illegal imigrants for the desintegration of this great nation. |
|
| milton smith |
March 10th, 2009 6:13 pm ET He got 150 years while Canadian politicians pocket millions in front of the world and walk away with a t.v show for crying out loud. HA HA HA! Life is funny! |
|
| milton smith |
March 10th, 2009 6:14 pm ET He got 150 years while Canadian politicians pocket millions in front of the world and walk away with a t.v show for crying out loud. HA HA HA! Life is funny! |
|
| Teresa |
March 10th, 2009 6:34 pm ET re: " is expected to plead guilty on Thursday to 11 criminal charges that could put him in jail for the rest of his life." ...just for ripping off one person for $1 million dollars I think he should be in prison for life. "COULD put him in prison..." incredible... outrageous. This guy is poison. Lock him up. I WISH he was eligible for the death penalty. He has destroyed peoples lives and made a mockery of all they've worked for. Time to start rounding up his accomplices. |
|
| David Leduc |
March 10th, 2009 6:35 pm ET He ruined a lot of lives. I hope they throw away the key. |
|
| Barbara in Boston |
March 10th, 2009 6:46 pm ET I have an idea that may bring some justice. Why not have victim impact hearings? Make Madoff sit there and listen to all the ruined charities and impoverished Americans tell him how his greed has ruined their dreams. |
|
| Ritam |
March 10th, 2009 6:59 pm ET Make him give all the money back to all the old folks who trusted him. |
|
| JIM CALIFORNIA |
March 10th, 2009 7:06 pm ET Madoff is very smart. By pleading guilty, he doesn't have to cooperate with the prosecution .He is 70 years old and a plea deal wouldn't do him any good. Either way he will die in prison. I am sure others were involved but they will never get caught. |
|
| Mari, Salt Lake City |
March 10th, 2009 7:40 pm ET WHY is this man NOT in jail in New York City??? WHY is this man still living in his posh penthouse?? I get it.......... we have a justice system for the rich, and another for the rest of us! |
|
| Annie Kate |
March 10th, 2009 8:12 pm ET So Madoff spends most of his life living off the millions of ill-gotten gains he swindled out of his victims. Now he goes to prison for the rest of his life at tax payer expense. So he doesn't have to worry about retirement and how to live through it like his victims do – somehow this doesn't seem like justice. I hope they recover enough that his victims have something to show for their investment principal. |
|
| Stephen, Charlotte, NC |
March 10th, 2009 8:43 pm ET Widows whose husbands invested with Madoff are having to sell their homes in many places across our country. Madoff's wife should not be allowed to retain any amount of stolen money. The widows should be paid back their initial principal investment from the $70 million Madoff wants the judge to let his wife retain. If the judge allows Madoff's wife to keep any number in the millions then crime in the U.S. most certainly does pay. Don't let her keep stolen money. Mrs. Madoff can always get a job as someone's maid. |
|
| GG in Palo Alto |
March 10th, 2009 8:43 pm ET Billions of taxpayer dollars have gone to AIG. AIG in turn has used that money to pay many of the same people listed on the Bernie Madoff client list, e.g., Merrill Lynch, Morgan Stanley, Bank of America, etc. etc. Would it be too much of a leap to assume the American taxpayer is also bailing out Bernie and those trusting souls (and banks) who turned over their money (and their clients' money) to him? In the more common usage of the word, "redistribution of wealth" tends to mean, taking from the rich and giving to the poor. I think we've got it backwards. |
|
| Christie C. |
March 10th, 2009 8:50 pm ET Don't you think when Maddoff pleads guilty on Thursday and the Judge does not order him immediately to jail he can do what his other friend/investor did which was kill himself? That would be his easy out. |
|
|
Comments have been closed for this article |
||
A behind the scenes look at “Anderson Cooper 360°” and the stories it covers, written by Anderson Cooper, the AC360° staff and a network of contributors. Insight you can’t find anywhere else.
We search the news each day to show you what’s on our radar and what we’re planning for the show each night.
For more details, read our tips on how to win 360° approval for comments.
Send your instant feedback to Anderson Cooper 360°.
- Real-life effects of reform getting lost in the noise
- Evening Buzz: Buying Health Care Reform Votes
- Live Blog from the Anchor Desk 12/21/09
- U.S. soldiers in Iraq could face courts-martial for getting pregnant
- FAQs about health care reform
- Interactive: Brittany Murphy’s acting career
- Senate health care reform bill
- House health care reform bill
- Interactive: The top 10 Health-Care-Reform Players
- Video: Child custody battle continues
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2005

