Bernie Madoff applies for clemency, asks for commutation of his 150-year sentence

Posted By: Staff
July 24, 2019 @ 3:09 pm
ABC Business

Stephen Chernin/Getty Images

Stephen Chernin/Getty Images(NEW YORK) — Disgraced financier Bernard “Bernie: Madoff has petitioned the U.S. government to commute his 150-year prison sentence for defrauding investors in an elaborate, long-running Ponzi scheme.

Madoff filed a petition for clemency requesting a “commutation of sentence” sometime before July 1, 2019, according to Justice Department records. The current status is “pending.”

Ten years ago on June 29, 2009, the 81-year old pleaded guilty to 11 crimes for running a $65 billion fraud that duped investors, including bold-faced names from New York to Hollywood.

The news of the clemency bid was first reported by CNBC.

At his sentencing, Judge Denny Chin said the punishment was symbolic, befitting a crime that showed “extraordinary evil” and “took a staggering human toll.”

At the time, Madoff faced the victims in the courtroom and said, “How do you excuse lying to brother and sons? How do you excuse lying and deceiving a wife who stood by you for 50 years and still stands by you? There is no excuse for that and I don’t ask for forgiveness.”

Madoff’s former lawyer, Ira Lee Sorkin, declined to comment on the request.

Clemency petitions are reviewed by the Justice Department and the president.