Saturday, March 7, 2009

Elsie Law's Daily Dose Of The Law: Does Madoff Have A Secret Plea Bargain In The Works?

After swindling billions of dollars out of thousands of investors, Bernard Madoff is said to be allegedly ready to plead guilty. The money manager who sparked what is considered "the biggest investment fraud in history," waived his right to have a grand jury indictment.

Legal experts say that Madoff's maneuver of waiving a grand jury indictment is usually a signal that an arrangement has been made behind closed doors, and a case is close to being resolved.

Madoff, who is a former chairman of NASDAQ, is reportedly scheduled to appear in U.S. District Court on Thursday for a plea proceeding.

According to CNN, Madoff's victims who wish to be heard at the proceeding are encouraged to send an e-mail to the U.S. Attorney's office by 10 AM, March 11th. CNN lists the e-mail address as:

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