Bernard Madoff Sentencing Delayed to June 29 by Judge
Bernard Madoff Sentencing Delayed to June 29 by Judge (Update1)
By Thom Weidlich and David Glovin
May 14 (Bloomberg) -- The sentencing of convicted conman Bernard L. Madoff was postponed for 13 days to June 29 for masterminding a Ponzi scheme that cost investors as much as $65 billion.
U.S. District Judge Denny Chin in New York gave no reason for the postponement. In a three-page order he also outlined a procedure for victims who wish to submit letters to him or to speak at the sentencing.
â€œDue to the number of victims in the case, the court cannot guarantee that every victim who wishes to speak at sentencing will have the opportunity to do so,â€ Chin wrote, adding that victim letters and e-mails to the court will be made public.
Madoff, 71, was arrested Dec. 11 after allegedly admitting to his sons that the business was â€œone big lie.â€ He pleaded guilty March 12 to defrauding investors by using money from new ones to pay off old ones and faces as many as 150 years in prison. Before his arrest, his investors were told they had $65 billion.
Madoffâ€™s lawyer, Ira Sorkin, said the case was postponed due to â€œlogistics.â€ He declined to say whether he or the government requested the delay or whether Chin did it on his own.
Chin said that victims who wish to speak at the sentencing must email the U.S. Attorneyâ€™s Office by June 10 with a brief explanation of why they wish to do so, Chin said. The sentencing will take place in the courthouseâ€™s Ceremonial Courtroom rather than his smaller courtroom, Chin said. The court will provide two overflow viewing rooms with video and audio feeds.
The case is U.S. v. Madoff, 09-cr-00213, U.S. District Court, Southern District of New York (Manhattan).
To contact the reporter on this story: Thom Weidlich in New York at firstname.lastname@example.org; David Glovin in New York federal court at email@example.com.
Last Updated: May 14, 2009 12:24 EDT