So Madoff is pleading guilty to all 11 counts *without* a plea bargain. 150 years. http://biz.yahoo.com/ap/090310/madoff_scandal.html I bet he changed his mind about a plea deal when he realized he'd have to testify against his wife and all former employees. And that if he lied one single time, his plea deal would be revoked and he'd be prosecuted using his own testimony and sentenced accordingly.
I've heard that SEC is going to shut down Madoff financial and all of their hedge funds for SEC violations. Can anyone confirm this? Forex Guides
WASHINGTON -- The Securities and Exchange Commission today announced an agreement with disgraced money manager Bernard Madoff that could eventually force him to pay a civil fine and return money raised from investors. The partial judgment, which renders permanent a preliminary injunction that froze Madoff's assets after his arrest in December, must be approved by the judge overseeing the case in federal court in New York City's borough of Manhattan. Invitation Letter