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The politics of a plea; what did Madoff do? March 10, 2009

Posted by jefhenningeresq in News.
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It looks like Madoff (Bernard L. Madoff Investment Securities or BLMIS), is going to plea out and as a result, die in prison.  He will also have to pay back a ton of money.  However, the Government claims that there is no plea agreement.  I can’t buy this.  I see no reason why you would give up your right to stall in an effort to delay going to prison to die.  I see no reason why your attorneys would work so hard for months only to just throw in the towel so early.  Why even get a good attorney?  What are you even paying them to do.

Here’s what this boils down to.  He is going to take the hit and give back money in exchange for something.   My guess is that this something, this  bargain, involves his family.  However, the Government wants to look like the white knight here with no blood on their hands.  It is all politics.  They say there was no plea agreement and maybe they are right in a technical sense.  However, I’m sure there is an agreement that we don’t know about that makes Madoff decide to avoid the trial of the decade (or even century)and plea out so early. 

When the media feeds you this garbage, don’t buy it.  Article is here.

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