Appealing convicted Ponzi scheme operator Bernard Madoff's 150-year prison sentence would be an exercise in futility, a legal expert said. Given Madoff's age, 71, even a reduction to 50 years would amount to a lifetime sentence, a case of Madoff winning the battle, but losing the war, Mark Allenbaugh, a former attorney for the U.S.

A lawyer for New York investor Bernard Madoff has requested a sentence of 12 years, for 11 fraud-related counts that lost investors an estimated $65 billion. To date, 1,341 Madoff victims have been discovered with a collective loss of $13 billion, CNN reported Tuesday. Madoff, who pleaded guilty in March, is currently 71 years old and has a life expectancy of 13 years, wrote attorney Ira Sorkin in a letter requesting federal Judge Denny Chin consider a 12-year term. The letter refers to Madoff's turning himself in to authorities and his non-violent nature." We seek neither mercy nor sympathy, Sorkin wrote, acknowledging terrible losses have been suffered as a result of Mr.

Attorneys for victims of Bernard Madoff's multibillion-dollar Ponzi scheme filed a lawsuit to force Madoff into bankruptcy, court records show. Jonathan Landers, one of the attorneys for the victims, said the suit filed in U.S.

Accused New York trader Bernard Madoff is likely to plead guilty to what is called the largest fraud case in history, his attorney said Tuesday. It is anticipated that he will plead guilty on Thursday, Madoff's attorney Ira Sorkin said in an interview, MarketWatch reported.

High-profile Florida philanthropist Michael Bienes says he never suspected arrested investment guru Bernard Madoff of running an alleged scam. In an interview published Sunday in South Florida Sun-Sentinel, Bienes said he lost more than $10 million and is near bankruptcy because of money given to Madoff, who is accused by federal securities investigators of operating a $50 billion Ponzi scheme. Asked if he ever doubted Madoff, Bienes, 72, responded, "Doubt Bernie Madoff? Doubt Bernie? No.