Bernard Madoff, the investment manager who pleaded guilty to masterminding the largest Ponzi scheme in U.S. history, should be sentenced to a term of 150 years in prison, federal prosecutors recommended.
Madoff, 71, has asked for prison term of as little as 12 years and no more than 20 when he is sentenced in Manhattan federal court on June 29.
“The scope, duration and nature of Madoff’s crimes render him exceptionally deserving of the maximum punishment allowed by law, and the guidelines advise a sentence of 150 years,” assistant U.S. attorneys Marc Litt and Lisa Baroni said in a letter to the sentencing judge.
If the judge opts for a lesser term, the sentence should be one that “would assure that Madoff will remain in prison for life,” they said.
U.S. District Judge Denny Chin will impose the sentence more the six months after Madoff confessed to a decades-long fraud scheme.
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