Language in a recent court filing suggests that Bernie Madoff is trying to cut a plea deal, says the NYT. This is hardly surprising, given that he already confessed. It could also be good news for victims, who stand a better chance of getting something back sooner if he cooperates (personal money stashed all over the globe will be harder to locate otherwise).
NYT: Federal prosecutors acknowledged in a court order released Monday that Mr. Madoff’s lawyer, Ira Lee Sorkin, is “engaging in discussions concerning a possible disposition of this case.”
While Mr. Sorkin would not comment, several former prosecutors said that language clearly indicated that the discussions were about a deal in which Mr. Madoff would agree to plead guilty in exchange for some type of leniency.
“He’s trying to cut a deal,” said Marvin G. Pickholz, a former securities regulator and specialist in white-collar crime. “The only other possible ‘disposition’ that could be negotiated would be for the government to drop the whole case — and that’s not going to happen.”
Business Insider Emails & Alerts
Site highlights each day to your inbox.