Madoff to Plead to 11 Counts, No Sentence Concession
Details of Bernard Madoff's expected guilty plea emerged today when he appeared in court for a hearing to waive any conflict of interest his lawyer might have from past representation of other clients.
Madoff will plead straight-up -- no plea agreement-- to 11 charges in the Criminal Information.
“There is no plea agreement,” Assistant U.S. Attorney Marc Litt said at the hearing, meaning Madoff must plead guilty to 11 counts that he now faces in a criminal information filed today.
Madoff is charged with securities fraud, investment adviser fraud, mail fraud, wire fraud, three counts of money laundering, false statements, perjury, false filings with the U.S. Securities and Exchange Commission and theft from an employee benefit plan, Litt said.
The Government filed a letter with the Court today outlining its sentencing guideline calculations. (Available on PACER) [More....]
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