July 25, (Xinhua/GNA) - Notorious Ponzi schemer Bernie Madoff, who pleaded
guilty to 11 financial crimes in 2009, is asking U.S. President Donald Trump to
shorten his 150-year prison sentence.
filed the request with the U.S. Department of Justice (DOJ), seeking to
"finish his life in freedom" after running the biggest Ponzi scheme
in U.S. history, the Bloomberg reported.
arrested in December 2008 for running a multi-billion-dollar Ponzi scheme -- an
investment fraud promising high returns, with early investors paid off with
money from later investors.
swindler is serving a 150-year sentence in a federal prison in Butner, North
Carolina since July 2009, after he committed crimes, including fraud, money
laundering and perjury.
the court-appointed trustee to handle the dissolution of Madoff's investment
firm, has recovered over 13 billion U.S. dollars for the victims, some of whom
had lost their life savings.
million dollars might soon be returned to the customers, Reuters reported last
government, meanwhile, has a separate 4 billion fund to compensate Madoff's
victims, and the DOJ has announced several rounds of distribution of recovered
statistics showed that the department received 1,003 petitions for pardons and
another 5,657 for sentence commutations that could have been considered by
Trump since he was in the White House, but Trump has granted just 10 pardons
and four commutations, CNBC reported.