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Bernie Madoff asks Trump to cut back the prison sentence for the Ponzi program



The notorious Ponzi executioner Bernie Madoff has petitioned the Justice Department to demand that President Donald Trump cut his 150-year sentence.

Madoff, 81, is currently serving this sentence in a federal prison in Butner, North Carolina, for orchestrating the largest Ponzi scheme in history. His decades-long fraud at the head of Bernard L. Madoff Investment Securities in New York has cheated billions of dollars on thousands of investors.

Madoff, who pleaded guilty to eleven crimes in 2009, does not apologize to the president.

Instead, according to information on the Trump Department of Justice's website, he is calling for mercy in the form of a sentence conversion or abatement.

A search on this site shows that Madoff's petition for mercy is "pending". [1

9659002] The Department of Justice did not disclose when Madoff's application was filed, but noted that it takes between one and three months for such an application to appear in the site's grace section.

It is not known if Trump will consider the request. or when he could do that.

Madoff's former lawyer, Ira Lee Sorkin, told CNBC that he had no information about the request.

The White House referred questions to Madoff's pardon request to the Justic e department.

DOJ statistics show that the Department received 1,003 applications for parole and 5,657 applications for conversion of sentences that Trump has been able to take into account since his time at the White House. Trump has granted 10 pardons and only four bills. His pardon receivers include the controversial former Arizona Sheriff Joe Arpaio, Lewis "Scooter" Libby, former chief of staff of Vice President Dick Cheney, the late boxer Jack Johnson, the conservative pundit Dinesh D & # 39; Souza and most recently the former media mogul Conrad Black, who wrote a biography entitled "Donald J. Trump: A President Like No Other".

Two other pardons, Oregon rancher Dwight Hammond and his son Steven Hammond, Madoff's longtime secretary, also ask Trump to convert her six-year jail term to support the Ponzi system, according to the Ministry of Justice website. 19659002] In January, a federal judge overturned a separate motion filed by secretary Annette Bongiorno (70) for release. Bongiorno has served nearly 4½ years in a federal institution in the state of New York.

Peter Madoff, Bernie's younger brother, pleaded guilty in 2012 to falsifying the records at the Madoff investment firm and conspiring to commit fraud. He was sentenced to 10 years in prison and is expected to be released in October 2020.

There is no record of a pardon by Peter Madoff on the Ministry of Justice website.

Bernie Madoff's wife, Ruth, in May agreed to pay $ 594,000 and return her remaining assets if she made money for Madoff's clients as part of a claim settlement by Irving Picard, the court-appointed trustee who has been trying for years to win back, dies. Ruth Madoff was never charged with her husband's crimes.

Madoff's plan had originally lost an estimated $ 65 billion to its investors.

However, in November of last year, Picard had received more than $ 13.3 billion from the approximately $ 17.5 billion in billions of claims from clients claiming to have been cheated on by Madoff's plan.

The Wall Street Journal stated in a story on this balance sheet, "That's just over 75 cents on the dollar, which is notable, considering when they were cheated, Mr. Picard expected, & # 39; 5 to 10 cents on the dollar, "which is typical in a Ponzi scheme case."

Madoff's sons both died since he was imprisoned. His eldest son, Mark, hanged himself in December 2010 on the occasion of the second anniversary of his father's confession to the Madoff family.

Madoff's other son, Andrew, died in 2014 after a long struggle with a rare form of cancer

Neither Andrew nor Mark were ever charged in connection with her father's crimes. However, in 2017 Picard scored comparisons with the estates of both sons and allied defendants totaling more than $ 23 million.


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