Bernard Madoff will plead guilty Thursday, lawyer says

by zeet | March 10, 2009 at 12:14 pm

99 views | 0 Recommendations | 0 comments

Madoff is risking up to 150 years if the court finds him guilty in the Ponzi scheme that swindled celebrity investors for billions.

Bernard Madoff’s lawyer has told a judge his client will plead guilty later this week to 11 counts including money laundering, perjury and securities, mail and wire fraud.

Prosecutors said the disgraced money manager will face up to 150 years in prison on the charges.

The details of the criminal case emerged at a hearing Tuesday to resolve several potential conflicts of interest between Madoff and his lawyer, Ira Sorkin.