Madoff guilty plea on the cards - Printable Version +- Deep Politics Forum (https://deeppoliticsforum.com/fora) +-- Forum: Deep Politics Forum (https://deeppoliticsforum.com/fora/forum-1.html) +--- Forum: Money, Banking, Finance, and Insurance (https://deeppoliticsforum.com/fora/forum-7.html) +--- Thread: Madoff guilty plea on the cards (/thread-1015.html)

Madoff guilty plea on the cards - David Guyatt - 06-03-2009 That'll save a trial -- and coincidentally will stop the full truth coming out. But hey, that ain't the real reason, right. The caption should read: "US mafia money-laundered and scam artist Bernie Madoff is in jail after bail was denied by a (rare) honest judge. http://news.bbc.co.uk/1/hi/world/americas/7929301.stm Madoff guilty plea on the cards US financier Bernard Madoff is currently on bail and under house arrest Disgraced US financier Bernard Madoff, the man accused of orchestrating a $50bn (£35bn) fraud, may be about to plead guilty, reports have suggested. It follows a court filing by the US Attorney's office, which said Mr Madoff is ready to waive an indictment. Such legal wording is typically used when a plea deal is imminent. Mr Madoff has been on bail since his arrest in December. He is accused of defrauding investors who placed money in his investment fund. Prosecutors have until Friday 13 March to file formal charges. House arrest Mr Madoff, 70, a former chairman of the Nasdaq stock exchange, is accused of running a Ponzi scheme - a system whereby early investors are paid off with the money of new clients. If convicted, Mr Madoff faces up to 20 years in prison and millions of dollars in fines. He currently remains under house arrest at his Manhattan apartment as part of his bail terms. Prosecutors said last month that Mr Madoff's wife withdrew more than $15m from an account shortly before he was arrested.