Sunday, June 28, 2009

Madoff Sentencing Tomorrow

Bernard L. Madoff is due to be sentenced tomorrow in the US District Court for the Southern District of New York for defrauding investors out of some $50 billion. The courtroom is expected to be jam packed. Prosecutors have asked for a sentence of 150 years - effectively life in prison. U.S. District Judge Denny Chin entered a preliminary order Friday, ruling that Madoff must give up his interests in all property, including real estate, investments, cars and boats, amounting to $171 billion.

Read the story here.

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