Bernard Madoff, who defrauded investors of more than $19 billion, has asked for early release from his 150-year prison sentence.
Bernard Madoff, who defrauded investors of more than $19 billion in history’s biggest Ponzi scheme, has asked for early release from his 150-year prison sentence, saying he has 18 months left to live.
His lawyer, Brandon Sample, said in a court filing that Madoff has “chronic kidney failure that has progressed to end-stage renal disease.” Madoff also suffers from other conditions, including heart disease, high blood pressure, esophageal reflux, insomnia, shortness of breath, back pain, itching, leg cramps and anxiety, according to the filing.
If granted, an order freeing him would come on the heels of one granted to former WorldCom Inc. Chief Executive Bernard Ebbers in December for medical reasons. Ebbers, who was convicted in 2005 of securities fraud following WorldCom’s collapse, served more than 13 years of a 25-year sentence. He died on Feb. 2 at age 78.
The scheme unraveled in 2008 when the economic crisis led to more withdrawals than Madoff could afford to pay out. Some clients learned they lost their life savings after Madoff’s confession and arrest on Dec. 11 of that year.“This was not merely a bloodless financial crime that occurred on paper, but one that takes a staggering toll,” Chin said at the time. “The breach of trust here was massive.”President Trump to commute his sentence.
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