Alternative Investments: U.S. Prosecutors Oppose Release of Bernie Madoff

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U.S. prosecutors said Wednesday that they oppose the release of Bernie Madoff from prison even if he is dealing with kidney disease. In a statement, prosecutors said that Madoff has failed to show remorse or accept responsibility for his massive Ponzi Scheme. They also said that denying Madoff’s request to return home would uphold victims’ rights and boost confidence in the U.S. justice system.

“Madoff’s crimes were extraordinarily evil,” prosecutors said. “His sentence was appropriately long. It should not be reduced.”

Bernie Madoff and His Fate

According to reports, prosecutors want Madoff to continue serving his 150-year sentence. Madoff has sought a “compassionate release” after saying he had fewer than 18 months to live.

Madoff has served a little less than 11 years on his sentence. His lawyer, Brandon Sample, told Reuters that Madoff continues to be optimistic about his request. “Madoff, despite what the government might claim, is remorseful for his conduct,” Sample wrote.

Prosecutors also said that about 500 of Madoff’s 520 victims submitted statements to the Manhattan federal court opposing any release for Madoff. That said, it remains uncertain how this will play out given the 2018 passage of the First Step Act. The bipartisan bill provides freedom to certain prisoners, typically older ones who face health problems.

Former WorldCom executive Bernard Ebbers was released under the law. He passed away last month at 78 years old.

Recent: Hedge Funds: Kyle Bass Won’t Apologize for Twitter Feud on Coronavirus

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