Investors Could Get Say At Madoff Plea Hearing

Bernard Madoff could soon find himself in a courtroom with some of the devastated investors who he is accused of ripping off in one of the biggest financial frauds in history.

A person close to the case says that Madoff is expected to plead guilty at a hearing next week to charges that he carried out the massive swindle.

A federal judge issued an order Friday inviting potential victims who wish to be heard at Thursday's hearing to notify the court a day earlier.

Madoff is waiving his right to have a grand jury hear the government's case against him.

He's agreed instead to be charged directly by prosecutors, a step defendants take when they are preparing to plead guilty in a case.

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  • by CM Location: Greenville on Mar 8, 2009 at 08:56 AM
    The "average" bank robbery nets about $5,000 and like all "blue collar" crimes, the amount of money is not large in comparison to the "white collar" crimes which tend to involve thousands if not millions of dollars. But like always, these "big boys" with lots of money and political pull will not be punished in a just and fittng manner. Madoff is no different than any other criminal, he just has lots of money and "friends" that can and will keep him out of jail.
  • by Barlow Location: Winterville on Mar 8, 2009 at 06:39 AM
    This guy shoulda been stopped years ago. The regulators were warned time and time again. Better regulation and oversight is sorely needed in this country. This is a good example of what happens in the so-called "free market" without controls. There needs to be tougher penalties for these clowns. They destroy far more lives than a street burglar or thief ever could and pay little consequence
  • by Anonymous on Mar 8, 2009 at 06:05 AM
    Madoff Gave money to obama, he will get off easy.
  • by Anonymous on Mar 7, 2009 at 04:18 PM
    He should be in jail & ALL of his assets seized to repay those he ripped off.
  • by Cactus Location: Strabane on Mar 7, 2009 at 02:54 PM
    This man is to have stolen $50 Billion, yet he remains free, living in his $7 Million apartment. His wife will claim $60 plus Million as hers, plus the apartment. Seems to be something wrong here. Martha Stewart was jailed for 13M for insider trading that was to have netted her $40 thousand. Will the CEO of AIG and other failed surities (as well as their watch dogs) be investigated and maybe charged also. Madoff will get less than 10 years, in a country club prison.
  • by Barlow Location: Winterville on Mar 7, 2009 at 10:48 AM
    Poster child for the rich and corrupt. There is no way for him to pay for the damage he has done. We will probably get less than a year for every billion he stole. Hey, can I do a year in jail for a billion a year too? quite the deal!
  • by OH! MY Location: greenville on Mar 7, 2009 at 10:00 AM
    Quote from the flim--flam man Mordecai Jones 1967 Son,you'd be amazed at the hundreds of satisfied students I've matriculated over the last 50 years.

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