Former Ponzi Scheme Leader Bernie Madoff Asks Trump For Reduction Of 150-Year Sentence
Bernie Madoff has asked President Donald Trump to reduce his 150 year prison sentence.
Madoff has filed a petition for clemency with the Department of Justice. He says is not seeking a complete pardon but merely wants a reduction of his sentence.
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In 2009, Madoff pleaded guilty to 11 crimes that were the result of what was called the biggest Ponzi scheme in history. Some of the crimes included perjury, theft, fraud and money laundering. Madoff’s investment firm, Bernard L. Madoff Investment Securities, conned investors out of billions of dollars.
According to Trump’s book Think Like A Champion, the president called Madoff a “sleazeball and a scoundrel.”
During his time in office, Trump has rarely granted clemency to those 1,003 requests the Department of Justices says it has received since Trump took office. The Department of Justice’s website shows that in just under three years Trump has granted only ten pardons in comparison to former President Barack Obama’s 17 pardons in by the end of his third year in office.
Madoff is currently serving his sentence at a federal prison in North Carolina.