United States v. Bernard L. Madoff
United States v. Bernard L. Madoff, 09 Cr. 213 (DC). On March 10, 2009, a Criminal Information was filed in Manhattan federal court charging Bernard L. Madoff with eleven felony charges including securities fraud, investment adviser fraud, mail fraud, wire fraud, three counts of money laundering, false statements, perjury, false filings with the United States Securities and Exchange Commission ("SEC"), and theft from an employee benefit plan. There is no plea agreement between the Government and the defendant.
On March 12, 2009, Madoff pleaded guilty to all eleven counts in the Information. Madoff faces a statutory maximum sentence of 150 years’ incarceration.Madoff is also subject to mandatory restitution and faces fines up to twice the gross gain or loss derived from the offenses. The Criminal Information also includes forfeiture allegations which would require Madoff to forfeit the proceeds of the charged crimes, as well as all property involved in the money laundering offenses and all property traceable to such property. Links to the Criminal Information and the Government’s Letter Concerning Maximum Penalties are below.
Prior Proceedings
On December 11, 2008, Bernard L. Madoff was arrested on a criminal complaint alleging one count of securities fraud. On December 11, 2008, the Securities and Exchange Commission brought a civil action against Mr. Madoff, and filed a motion to freeze certain assets and to appoint a receiver. On December 12, 2008, U.S. District Judge Louis L. Stanton entered an order: (1) appointing a receiver (Lee S. Richards, Esq.) over Bernard L. Madoff Investment Securities LLC, Madoff Securities International Ltd., and Madoff Ltd.; and (2) freezing certain corporate and personal assets. On December 15, 2008, a trustee (Irving H. Picard, Esq.) was appointed for the liquidation of Bernard L. Madoff Investment Securities LLC, pursuant to the Securities Investor Protection Act of 1970. At the moment, we understand that the receiver will be posting information about its activities at www.madoff.com, and the trustee will be posting information about its activities at www.sipc.org. Investors and/or victims should consult those websites for additional information.
Information for Investors
Investors are requested to gather any documents that they have concerning their investments with Mr. Madoff and his companies, and to regularly check this website, the receiver's website, the trustee's website, and the SEC website (www.sec.gov) for information about developments in this investigation and further instructions on how to provide information to the pertinent authorities.
In addition, the FBI has set up a hot line number, (212) 384-2359, for victims to call and leave their contact information.
We know that investors are anxious to learn whatever they can about the status of their investments and the assets of the Madoff companies. Although we cannot provide further details at this time, please be assured that all those involved are working diligently to investigate this matter and to locate and preserve assets that can be used for restitution to defrauded investors.
Federal crime victims* have the following rights, as set forth in the Justice for All Act of 2004, 18 U.S.C. §3771:
(1) The right to
be reasonably protected from the accused.
(2) The right to reasonable, accurate, and timely notice of any public
court proceeding, or any parole proceeding, involving the crime or of
any release or escape of the accused.
(3) The right not to be excluded from any such public court proceeding,
unless the court, after receiving clear and convincing evidence, determines
that testimony by the victim would be materially altered if the victim
heard other testimony at that proceeding.
(4) The right to be reasonably heard at any public proceeding in the district
court involving release, plea, sentencing, or any parole proceeding.
(5) The reasonable right to confer with the attorney for the Government
in the case.
(6) The right to full and timely restitution as provided in law.
(7) The right to proceedings free from unreasonable delay.
(8) The right to be treated with fairness and with respect for the victim's
dignity and privacy.
*Under the statute, "the term ‘crime victim' means a person directly and proximately harmed as a result of the commission of a Federal offense or an offense in the District of Columbia. In the case of a crime victim who is under 18 years of age, incompetent, incapacitated, or deceased, the legal guardians of the crime victim or the representatives of the crime victim's estate, family members, or any other persons appointed as suitable by the court, may assume the crime victim's rights under this chapter, but in no event shall the defendant be named as such guardian or representative.
The United States Attorney's Office for the Southern District of New York is committed to protecting the rights of crime victims. If you are a victim of an offense being prosecuted by our Office, our Victim/Witness Unit can make sure that you are notified of important stages of the case to help you exercise your rights. In addition, our Victim/Witness Unit can help refer you to agencies that provide other services to witnesses, such as compensation and counseling. For information or assistance with referrals, please contact:
Wendy
Olsen Clancy
Victim/Witness Coordinator
United States Attorney's Office
One St. Andrew's Plaza
New York, New York 10007
(866) 874-8900
Wendy.Olsen@usdoj.gov
UPDATE
United States v. Bernard L. Madoff has been assigned to United States District Judge Denny Chin. Sentencing is scheduled for June 16, 2009 at 1:30 p.m. Links to the Criminal Information, the Government’s Letter Regarding Maximum Penalties and the transcripts of the March 10, 2009 and March 12, 2009 Court hearings are provided below.
In United States v. Bernard L. Madoff, 09 Cr. 213 (DC), the Court received a request from NBC and ABC to unseal all correspondence from victims that has been submitted in connection with the case. This includes your email to the Government. If the correspondence from victims is unsealed, the victim’s personal identifying information including name, address, telephone number and email address (to the extent it was included on the correspondence) will become public. The Government must submit a response to the request by NBC and ABC by Tuesday, March 31, 2009. Please let us know whether you consent to the full disclosure of your correspondence, or whether you wish to have your correspondence remain sealed for privacy or other reasons. If you wish to have your correspondence remain sealed, please let us know the reason. We will defend your privacy to the extent that we can. Thank you.
Links to the Criminal Complaint, to the December 12, 2008, Order Freezing Assets and Granting Other Relief in the SEC's civil action, and to the order appointing the trustee are provided by clicking the appropriate link.
Government's Response to the Request by NBC and ABC to Unseal Documents |