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US authorities have asked for 150 years in jail for disgraced Wall Street mogul Bernard Madoff, who is accused of mounting one of the largest fraudulent operations of modern times, according to documents made public here. "The scope, duration and nature of Madoff's crimes render him exceptionally deserving of the maximum punishment allowed by law," prosecutor Lev Dassin said in a memorandum. He added that "a reasonable sentence in his case would be the guidelines sentence of 150 years or, alternatively, a term of years that both would assure that Madoff remain in prison for life, and forcefully would promote general deterrence." The former chairman of the Nasdaq stock exchange operated the fraud for decades, conning investors into depositing billions of US dollars that were then used to pay fictitious returns. Madoff has been... [read full story]
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