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WEDNESDAY, NOVEMBER 25, 2009
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Madoff to Plead Guilty on 11 Counts, Faces 150 Years

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(AP) – Bernard Madoff's lawyer told a judge today his client will plead guilty later this week to 11 counts including money laundering, perjury and securities, mail and wire fraud. Prosecutors say the disgraced money manager will face up to 150 years in prison on the charges.

The hearing at a Manhattan courthouse was called to resolve several potential conflicts of interest between Madoff and his lawyer, Ira Sorkin. Sorkin and his family invested more than $900,000 with Madoff. After questioning Madoff, the judge ruled that Sorkin may continue representing Madoff. Asked by the judge if Madoff would plead guilty Thursday, Sorkin said: "I think that's a fair expectation."

Bernard Madoff arrives at Manhattan federal court today.
Bernard Madoff arrives at Manhattan federal court today.   (AP Photo)
Besieged money manager Bernard Madoff arrives at federal court in New York.
Besieged money manager Bernard Madoff arrives at federal court in New York.   (AP Photo)
Bernard Madoff arrives at Manhattan federal court today.
Bernard Madoff arrives at Manhattan federal court today.   (AP Photo)
Madoff today.
Madoff today.   (AP Photo)
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3 comments
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United_States_of_Entertainment
Mar 10, 09 3:30 PM CDT
They should hang his ass from the highest penthouse by his ankles and leave him there. Reply
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Doctor_Zaius
Mar 10, 09 4:02 PM CDT
Go easy on him, only give him 149 years. Reply
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Chudluv
Mar 10, 09 7:28 PM CDT
Something just doesn't smell just right here. If you were guilty, which most will say yes to this, would you drag this out as long as possible; so you can remain free. Or would you just plead guilty right off the bat? Without a Plead bargin from the DA's office limiting the amount of time one does, is the usual plot to any guilty plea or guilty party. I wonder if there is a larger story to this all and there are more important players.... Reply
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Federal Court • money laundering • perjury • guilty plea • wire fraud • Ponzi scheme • attorney • securities fraud • conflict of interest • Bernard Madoff • mail fraud • Bill Maher Grid

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