A judge has rejected Ponzi king Bernard Madoff's bid for early release from his 150-year prison sentence. The judge noted the continuing suffering of Madoff's victims. Madoff sought compassionate release because he is dying of kidney disease.
FILE - In this Tuesday, March 10, 2009, file photo, former financier Bernie Madoff exits federal court in Manhattan, in New York. Madoff asked a federal judge Wednesday, Feb. 5, 2020, to grant him a “compassionate release” from his 150-year prison sentence, saying he has terminal kidney failure and less than 18 months to live.
Judge Denny Chin, who now sits on the 2nd U.S. Circuit Court of Appeals, noted the continuing suffering of Madoff’s thousands of victims who lost $17.5 billion when a decades-long scheme that deceived them into thinking their money was invested properly was exposed in December 2008. Attorney Brandon Sample, representing Madoff, said in a statement he was disappointed with the ruling.“We implore the President to personally consider Madoff’s rapidly declining health,” Sample said.
A trustee has recovered roughly $14 billion for investors, but the damage to victims was worsened because Madoff created fraudulent statements to suggest their investments had grown enormously, authorities said.
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