Judge says 150 years in prison for Madoff - New York Times

Counsel, Ira Lee Sorkin, listed several reasons, including Mr. Madoff confessed to his sons, knowing that it could be turned into; his "full acceptance" of the responsibility for his crimes; and its efforts to help the recovery of lost property.

Citing data showing Mr. Madoff, who was then 71 years, could expect to live about 13 years, Mr. Sorkin applied for a period of 12 years - "right to an effective life sentence", as he put it-suggesting that Mr. Madoff may be allowed a year of freedom before his death. Mr. Sorkin also proposed another option: 15 to 20 years.

Judge Chin, said that he understood the purpose of Mr. Sorkin. "It's a fair argument that you want to give someone a chance to see the light of day," the judge said in a recent interview, "to" have some hope and something to live.

"And," he added, "who was one of the struggles Madoff.".

Judge Chin said he rejected the idea of a 12 year sentence for Mr. Madoff quickly but thought 20 to 25 years may be acceptable. Finally, he concluded that even that "would have been just too low.

"Ultimately, I just thought it would deserve," he said. "The benefits of him gives hope were far outweighed by other considerations of."

Judge Chin would impose a term of 150 years of Mr. Madoff, perhaps the most striking and widely discussed the sentence in the history of the American crime passes white. In doing so, it seemed to find a way to translate the rage of the society in a number.

Two years later, her memories resurrect anger, shock and confusion that surrounded Mr. Madoff crimes and provide a rare eye blow encountered unbearable pressure by a judge who had for balancing act, the emotion of the public and its own deep convictions while making a sentence which was fair and met the need for the Court to send a message.

Judge Chin have agreed on a series of interviews in a broader look in his sentencings in the Federal District Court in Manhattan, which appear in an article later. "Most of the judges will tell you that sentencing is the most difficult things to do," he said.

Mr. Madoff, who was also interviewed, offered its first comments on the judge and the sentence, which was held two years earlier on Wednesday.

Speaking by telephone from federal prison in Butner, N.C., Mr. Madoff said that he believed that the judge Chin went with "the time mob psychology".

"Explain to me who else received a sentence like that", said Mr. Madoff. "I hear, serial killers get a death sentence, but this is practically what he gave me."

"I am surprised Chin suggests the stoning in public,"he added."".

"Thank you (I Guess).

Judge Chin, 57, said he has learned that he had received the case Madoff for its staff, as he entered his room, March 6, 2009, after a procedure of the Court.

He also received an email that day of Gabriel w. Gorenstein, a judge, magistrate who had reached in the wheel in wood that is used to assign random cases to the courthouse and selected an envelope containing the name of judge Chin.

"Just thought that I would give you the heads up," wrote judge Gorenstein.

"Thank you (I guess) to turn the wheel in my favor." Judge Chin wrote in return.

Judge Chin has also learned that day there would that Mr. Madoff plead guilty to all the 11 counts against him, including fraud, perjury and money laundering.

A few days before the sentencing, clerks and trainees from the Chin j. joined him for their weekly lunch around a large wooden table in his cabinet.

Madoff judge: food fund investors can recover (Reuters)

NEW YORK (Reuters) - investors in the "feeder Fund" which has lost money in the Bernard Madoff Ponzi scheme are not eligible as clients of the operator now-imprisoned, a federal judge decided Tuesday.

The decision of Judge Burton Lifland in New York is a victory for Irving Picard, the trustee of the liquidation of the firm of Madoff and search for money for the victims of the Madoff.

Picard dismissed requests for investors who have lost money after having invested as indirectly with Bernard l. Madoff Investment Securities LLC and who had no account y.

The Lifland decision also means that food fund investors are not eligible to receive up to $500,000 each from a federal fund designed to help customers of brokerage firms failed.

"The objecting claimants lack any of the traits typical of a client with BLMIS relationship, since they made no purchases transacted no business and had no dealings with brokers," wrote the judge. "" "". Conferring the status of client on the objecting claimants would extend that term entirely beyond its limits. »

Noting that many customers of feeder Fund had continued the funds themselves, Lifland said, "it is appropriate that the Fund and not the trustee, determine the specific amounts they owe to their customers".

Picard, in a statement, said that he was happy with "important precision Lifland.".

Helen Chaitman, a lawyer for some investors, did not immediately return calls seeking comment.

AGREEMENT OF GREENWICH SENTRY WINS APPROVAL

In the decision of Tuesday, Lifland had considered claims for clients to 16 funds for food that spilled at least some money to Madoff client. Nine were based in Delaware or New York and the rest in the Cayman Islands or the British Virgin Islands.

Many of these clients know how their money was invested and learned about their losses only after Madoff was arrested on December 11, 2008.

The U.S. Securities and Exchange Commission and the Securities Investor Protection Corp., which oversees the Fund for brokerage clients, agreed with Picard that feeder fund clients were not clients of Madoff.

Picard law has been approved with two bankruptcy fund affiliated with Fairfield Greenwich Group, the largest shipper of cash to Madoff separately, Lifland on Tuesday.

The trustee has agreed to drop claims of $ 212 million and in Exchange may pursue claims of funds against the owners of Fairfield and management, including financial Connecticut Walter Noel.

Picard in a separate statement said that agreement to add "value" to the assets of the bankruptcy and ultimately to customers.

Lifland had already approved the efforts of Picard to retrieve money from the former clients of Madoff that he considered "net winners", which means that they get more money from the Madoff firm that they have filed. The 2nd United States of the Court of appeal has yet to rule on an appeal by some investors of this decision of March 2010.

The trustee filed approximately 1 050 legal actions to recover more than 103 billion of banks, former customers and others, he told received or contributed to the Madoff fraud of validation.

Madoff, 73, pleaded guilty in 2009 and is serving a sentence of 150 years in prison.

(Reporting by Jonathan Stempel;) (Editing by Steve Orlofsky, Bernard Orr)

Madoff judge: cannot retrieve the feeder fund investors

Securities Investor Protection Act (SIPA) trustee Irving Picard speaks that Manhattan attorney Preet Bharara (L) looks at a New York Press Conference, announcing the return of $ 7.2 billion of the estate of Madoff initiated Jeffry Picower to settle civil remedies for victims of Ponzi scheme of Bernard Madoff 17 December 2010.

Credit: Reuters/Shannon StapletonBy Jonathan Stempel

NEW YORK | Tue, June 28, 2011 6: 16 pm EDT

NEW YORK (Reuters) - investors in the "feeder Fund" which has lost money in the Bernard Madoff Ponzi scheme are not eligible as clients of the operator now-imprisoned, a federal judge decided Tuesday.

The decision of Judge Burton Lifland in New York is a victory for Irving Picard, the trustee of the liquidation of the firm of Madoff and search for money for the victims of the Madoff.

Picard dismissed requests for investors who have lost money after having invested as indirectly with Bernard l. Madoff Investment Securities LLC and who had no account y.

The Lifland decision also means that food fund investors are not eligible to receive up to $500,000 each from a federal fund designed to help customers of brokerage firms failed.

"The objecting claimants lack any of the traits typical of a client with BLMIS relationship, since they made no purchases transacted no business and had no dealings with brokers," wrote the judge. "" "". Conferring the status of client on the objecting claimants would extend that term entirely beyond its limits. »

Noting that many customers of feeder Fund had continued the funds themselves, Lifland said, "it is appropriate that the Fund and not the trustee, determine the specific amounts they owe to their customers".

Picard, in a statement, said that he was happy with "important precision Lifland.".

Helen Chaitman, a lawyer for some investors, did not immediately return calls seeking comment.

AGREEMENT OF GREENWICH SENTRY WINS APPROVAL

In the decision of Tuesday, Lifland had considered claims for clients to 16 funds for food that spilled at least some money to Madoff client. Nine were based in Delaware or New York and the rest in the Cayman Islands or the British Virgin Islands.

Many of these clients know how their money was invested and learned about their losses only after Madoff was arrested on December 11, 2008.

The U.S. Securities and Exchange Commission and the Securities Investor Protection Corp., which oversees the Fund for brokerage clients, agreed with Picard that feeder fund clients were not clients of Madoff.

Picard law has been approved with two bankruptcy fund affiliated with Fairfield Greenwich Group, the largest shipper of cash to Madoff separately, Lifland on Tuesday.

The trustee has agreed to drop claims of $ 212 million and in Exchange may pursue claims of funds against the owners of Fairfield and management, including financial Connecticut Walter Noel.

Picard in a separate statement said that agreement to add "value" to the assets of the bankruptcy and ultimately to customers.

Lifland had already approved the efforts of Picard to retrieve money from the former clients of Madoff that he considered "net winners", which means that they get more money from the Madoff firm that they have filed. The 2nd United States of the Court of appeal has yet to rule on an appeal by some investors of this decision of March 2010.

The trustee filed approximately 1 050 legal actions to recover more than 103 billion of banks, former customers and others, he told received or contributed to the Madoff fraud of validation.

Madoff, 73, pleaded guilty in 2009 and is serving a sentence of 150 years in prison.

(Reporting by Jonathan Stempel;) (Editing by Steve Orlofsky, Bernard Orr)

College tuition: Judge throws the prosecution of illegal (http://rss.csmonitor)

OMAHA, Nebraska

A judge in Nebraska on a lawsuit Friday challenge a law that allows some to pay State of college tuition illegal immigrants.

Jefferson County District Judge Paul Korslund held six Nebraskans who claimed that their tax dollars have been spent in violation of federal law should first went to the Federal Government and may renew the challenge before the courts of the State if the Federal Government refuses to act.

Lawyer plaintiffs, Kris Kobach called dismissal "a bump on the road" and said he wasn't sure if he appeal dismissal of judge or to request Department of Homeland Security to respond.

"The case is far from finished," said Kobach, recently elected Kansas Secretary of State led to disputes in other States targeting illegal immigration.

The lawsuit filed in January said taxes by Fairbury residents served in support of right to the immigration-tuition fees for the State in violation of federal law. Trial appointed Council of the University of Nebraska Regents and other advice as the defendants State college and asked the judge to prevent school officials on the Act.

Attorney Joel Pedersen University agreed that dismissal left open over potential disputes but refused to speculate how applicants will proceed.

Act is adopted in 2005, says students whose parents brought the United States illegally can pay lower fees in State as they graduate schools in Nebraska, experienced in the State for at least three years and are continuing or promise of legal status. Rules for residency requirements and nonresident tuition fees are governed by the law of the State.

Opponents of the Bill say that it is unfair legal residents and conflicts with the Constitution of United States and a federal law of 1996 which prohibit benefits for illegal immigrants without giving Americans the break even higher education institutions.

In state tuition can be significantly cheaper than the costs for residents outside. For example, the cost of tuition undergraduate at the University of Nebraska-Lincoln is about $6,000 per year for students in the States and $17,650 to those of the State.

Kobach has brought a similar action in California, where the State Supreme Court held last month that illegal immigrants are entitled to tuition breaks even offered in state high school students attending public colleges and universities. Kobach, which represented a group of U.S. students seeking to invalidate the California law, said that it would appeal the decision of the Supreme Court.

The California legislature has adopted the measure in 2001 that allowed any student regardless of the status of immigration, who attended high school in California at least three years and graduated to qualify for tuition fees in the States in colleges and universities in the State. In state tuition saves each State student about $11,000 per year and each student at the University of California on $23,000 per annum.

Several other States, including New York and Texas, have similar laws.

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