Bernard Madoff may be facing 150 years in prison but not if his lawyer can help it. Ira Lee Sorkin made a written request to the judge, referring to his client’s age and asking for the sentence to be reduced to 12 years.
Madoff is 71 years old and with the average life expectancy being around 80 years; Sorkin believes that a sentence of 12 years would be pretty much the same as serving a life sentence. The mastermind behind the largest Ponzi scheme, the losses relating to his frauds exceed $13 billion. Sorkin believes that the non-violent nature of Madoff’s crimes as well as the fact that he surrendered voluntarily must be enough for the judge to consider a lowered sentence. Victims of Madoff’s fraud have also written to the judge pleading for the most severe punishment to be passed on Madoff.
The fact that Madoff’s victims would be spending the greater part if not all of their life trying to ameliorate their financial status should be enough for the judge to sentence Madoff for life. However, community service may be a better idea as a means of forcing Madoff to give a little back to the society that he has stolen so much from.
Via: CNN
When you don’t think Ira Sorkin can sink any lower, he then sinks himself even lower. Madoff should be given a lighter sentence because he did not physically harm anyone and since he turned himself in voluntarily, he says. Last December, with Madoff owing over $5 billion in redemptions, how much longer was he going to remain free anyway? The scam was over. He knew it. Sorkin knew it. Why else did he have Ruthie (or himself) withdraw that $10 million ahead of time? He needed bail money. Please, turning himself in a day early is no reason to reduce a sentence. The SEC missing his scam for at least 16 years is essentially a crime of great proportion also. Why do we have an SEC anyway, and shouldn’t everyone who has investment in this country be greatly concerned?
And the other reason he should have a lighter sentence because he did not physically hurt anyone. I guess its alright to financially destroy the lives of tens of thousands of people. Since when is the only serious crime that of physically hurting someone?Most of Madoff’s victims are already 6 months into their own life sentence, and because of SIPC purposely avoiding following existing laws, most of these “life sentences” are not subject to “parole.” These people will remain impoverished for the rest of their lives. I know Sorkin has to defend his client, but its time that Sorkin be given a dose of reality.
Thanks for your comment, Richard. You’re absolutely right, on both points.