Ponzi scheme king Bernie Madoff says he is dying, seeks early release from prison

“Now, after over ten years of incarceration and with less than 18 months to live, Madoff humbly asks this Court for a modicum of compassion.”

Sample said in the filing that the U.S. Bureau of Prisons had recognized that Madoff “meets the criteria for a reduction of sentence based on his end-stage renal disease,” but has denied his request for compassionate release.

The BOP said in a letter that, “in light of the nature and circumstances of his offense, his release at this time would minimize the severity of his offense.”

The U.S. Attorney’s Office for the Southern District of New York, which prosecuted Madoff declined to comment on the request, as did the Madoff Trustee, who is responsible for recovering funds for victims of his scheme.

To date, the Madoff Trustee has recovered more than $14.3 billion for Madoff customers, or more than 75 cents for ever dollar of claims filed by victims of the scam.

Peter Chavkin, a lawyer for Madoff’s wife, Ruth Madoff, declined to comment.

The couple’s two sons died in the years after Bernie Madoff leaded guilty to 11 crimes.

One of them, Mark, killed himself in December 2010 on the second anniversary of his father’s arrest.

The other son, Andrew, died in 2014 from cancer.

Sample told CNBC, “Mr. Madoff has terminal kidney disease.”

“The federal prison system acknowledges that he has only months left to live. The compassionate release statute is precisely for situations like Mr. Madoff’s,” Sample said.

“Mr. Madoff has been punished significantly for his crimes. He has been in prison for over 10 years and holds deep remorse for his conduct. He should be allowed to spend the few remaining moments he has on this earth with the people who — despite his mistakes — still love and care for him.”

Madoff’s request comes nearly seven months after he asked President Donald Trump to reduce his sentence.

And it came three days after the death of former WorldCom CEO Bernard Ebbers, whom a judge ordered released on compassionate grounds in December from federal prison in Texas, where he had been serving a 25-year sentence for overseeing one of the largest accounting frauds in U.S. history.

Sample, in his filing, cited Ebbers’ release, which came at the behest of a judge in the same New York federal district where Madoff was convicted.

Sample said in that filling that a prison term that was “just and proportionate at the time of sentencing may become disproportionately severe based on changed circumstances, such as terminal illness.”

“This Court must now consider whether keeping Madoff incarcerated, in light of his terminal kidney failure and a life expectancy of less than 18 months, is truly in furtherance of statutory sentencing goals and our society’s value and understanding of compassion,” the lawyer wrote.

The lawyer said that releasing Madoff “would allow him to receive end-of-life care in the community, which would be more efficient, timely, and less burdensome on the” prison system.

“Compassionate release and treatment outside of a correctional environment is not only the most effective manner of treatment, it would also be the most efficient and least expensive,” Sample wrote.

Article source: https://www.cnbc.com/2020/02/05/bernie-madoff-says-he-is-dying-seeks-early-release-from-prison.html