71-year-old Ponzi fraudster faces a maximum of 150 years in the slam. His lawyer asks judge to consider 12 years - an 'effective life sentence.'
By Aaron Smith, CNNMoney.com staff writer
Last Updated: June 23, 2009: 11:39 AM ET
..Madoff is scheduled to be sentenced on June 29. He has been locked up in the Metropolitan Correctional Center since March 12, when he pleaded guilty to masterminding the largest Ponzi scheme of all time. He pleaded guilty to 11 criminal counts, including fraud, money laundering and perjury.
Madoff perpetrated the scheme through his firm, which he founded in 1960. Thus far, federal investigators have identified 1,341 investors in Madoff's firm, with losses exceeding $13 billion...
Are you fucking kidding me? Oy. Oy Vey. Oy Gevault.
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