Madoff will not appeal 150-year sentence: lawyer

[Amerigo Vespucci]

Source: Reuters

NEW YORK (Reuters) - Arch swindler Bernard Madoff will not appeal the 150-year prison sentence he received for masterminding a global multibillion-dollar investment fraud, his main lawyer said on Thursday.

Madoff, 71, was sentenced on June 29 by U.S. District Court Judge Denny Chin to an effective life term for Wall Street's biggest swindle and had the right to appeal to the U.S. Court of Appeals for the 2nd Circuit in New York.

"We are not going to be appealing," Madoff's main lawyer Ira Lee Sorkin said. "That's our decision and we have no further comment."

The disgraced financier is jailed in a cell close to the Manhattan federal court where he pleaded guilty in March to criminal charges, including securities fraud, money laundering and perjury that together carried penalties of 150 years.

Read more: http://www.reuters.com/article/topNews/idUSTRE5684ZW20090709

[damntexdem]

1. Oh, he should appeal -- he might get it reduced to only 100 years.

;-)

[razorman]

2. Not to worry. With our lax parole system, he will only have to do 87 years.

[GodlessBiker]

4. No "parole" in the federal system. Some time off for good behavior, but not much.

[ProudDad]

6. He'll get 22 1/5 years off for good behavior

Out by December of 2137...give or take a month...

[GodlessBiker]

8. And I will be outside the prison protesting his release.

[MindMatter]

3. But that misses the most important question

What kind of golf resort is he going to be "incarcerated" in.

The low income urban 18-year old the sells a little crack gets hard time in circumstances guaranteed to make his life hell and ensure he will be a life-long criminal.

I am betting Madoff ends up on a minimum security situation where he can have all the visits he wants to have and before long he will be getting furloughs on the weekends.

Bet on it. The powerful take care of their own.

[ProudDad]

7. No "resort" for Bernie

He's got too many years.

He'll be lucky if he isn't among the tortured in a Supermax...

All prisons are corrosive of society and a sick perversion of so-called "justice" but the "Supermax" is the worst...factories of mental illness and crime all of them.

We should raze them to the ground and build a system that actually cures the disease of crime rather than making it WORSE...

[MindMatter]

9. Do you have any evidence on that?

Do you know what facility he's headed to?

I do not, but "white collar criminals" are generally assigned to halfway houses and such.

http://chattahbox.com/entertainment/2009/07/09/madoff-not-going-to-appeal-will-spend-rest-of-life-in-prison/
"He asked to be sent to a medium-security facility in Otisville, New York, 70 miles northwest of New York City."

http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6633809.ece
“Independent of the length of his sentence, he would score out as a minimum-security inmate,” said Mr Hoelter. “But because of the length of his sentence, they apply a ‘public safety factor’ and would never put him in a minimum security facility.”

Mark my words. They will put him in a medium security place for no more than 6 months. A year from now, he'll be in a minimum security facility.

[ProudDad]

5. The deal was -- leave the family alone and Bernie would plead guilty (n/t)