Madoff wants 12 years

Disgraced US financier Bernard Madoff’s lawyer has said his client deserves 12 years in prison for his crimes.

Bernie Madoff in March

In this March 10, 2009 file photo, Bernard Madoff exits Manhattan federal court in New York. Federal regulators on Tuesday, June 16, 2009 reached a settlement with Madoff that prohibits him from working in the securities industry. Photo: AP

In March, Madoff pleaded guilty to 11 charges that he masterminded a $50bn (£35bn) investment fraud.

He will be sentenced on 29 June and could be jailed for up to 150 years. Madoff is 71 years old now.

New York District Judge Denny Chin has received more than 100 letters from angry victims of Madoff’s fraud, with some calling him a “monster”.

‘Hysteria’

Madoff’s lawyer, Ira Lee Sorkin, urged Judge Chin to “set aside the emotion and hysteria” that surrounds the case.

“We seek neither mercy nor sympathy,” Mr Sorkin wrote in court papers.

But victims of Madoff – who admitted operating a massive Ponzi scheme for decades – were unmoved by the plea.

“If he was hung by his toes for 12 years then maybe that sentence would be acceptable,” said Candace Newlove of Colorado, who said her family was ruined by Madoff.

Judge Chin received 113 letters and e-mails from people who had lost money in the Madoff scandal.

Many urged him to sentence Madoff to the maximum 150 years in prison.

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