Convicted Ponzi-schemer Bernie Madoff filed a petition for clemency with the Justice Department Monday.
Madoff was arrested in December 2008 for defrauding investors of billions of dollars while head of the investment firm Bernard L. Madoff Investment Securities LLC. In June 2009 Madoff was sentenced to 150 years in prison for his crimes. According to reports, Madoff has not requested a pardon from President Donald Trump, but rather a commutation of his sentence.
Recently, the US Court of Appeals for the Second Circuit vacated numerous rulings of the Bankruptcy Court of the Southern District of New York that had prevented the liquidation of some of Madoff’s assets. The trustee in charge of selling of Madoff’s assets had been blocked from selling foreign property by the bankruptcy court.
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