WKYT | Lexington, Kentucky | News

Madoff in court for sentencing on fraud charges

U.S. District Judge Denny Chin says the federal probation department recommends that Bernard Madoff get 50 years in prison for a multibillion-dollar fraud scheme. Madoff's lawyer has asked a judge to give his 71-year-old client 12 years behind bars. Prosecutors planned to seek a 150-year prison term Monday. The former Nasdaq chairman was arrested late last year after confessing to his sons that his secretive investment advisory business was a "big lie." He pleaded guilty to securities fraud and other charges in March and has been jailed ever since.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 49429737