What Bernie Madoff Said In Court

Here is Bernie Madoff’s plea allocution, which he delivered in court today.  It was obviously written with three goals in mind:

  1. Admit guilt in ways designed to match the charges (normal humans don’t say they received funds by “interstate wire”–the prosecutors probably insisted on this)
  2. apologise (Can’t hurt. And, who knows, maybe he is “deeply sorry” and “ashamed.”)
  3. Claim that the assets of his trading business were separate from the ones used in the fraud (and, thus, that the people involved in those business–his sons and brother–weren’t tainted).

Interestingly, Madoff did NOT say that he acted alone.  Allocutions are presumably supposed to be truthful, and if Madoff acted alone, he almost certainly would have said so.  It’s not clear what else prosecutors could do to him if they busted him for lying in his allocution, but perhaps the evidence that he didn’t act alone is so clear that any claim to the contrary would have been laughed out of court.

Bernard Madoff’s Plea Allocution

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