Home Breadcrumb caret Industry News Breadcrumb caret Industry Madoff’s bid for early release may face public hearing A U.S. court wants to hear from the victims of Madoff’s massive Ponzi scheme By James Langton | February 10, 2020 | Last updated on February 10, 2020 1 min read Victims of Bernie Madoff’s massive Ponzi scheme will have an opportunity to weigh in on his bid to have his 150-year prison sentence reduced. On Feb. 5, Madoff, who has served about 10 years of his 150-year sentence for running an investment fraud that amounted to over US$50 billion, is now seeking early release, claiming to be in poor health. The court hearing Madoff’s motion issued a notice on Friday calling on victims of Madoff’s crimes to provide their views on his motion seeking early release to U.S. circuit judge Denny Chin. The U.S. government plans to file a response to Madoff’s motion and it said that the court may also order a public hearing before making its decision. The court set a deadline of Feb. 28 for the U.S. attorney’s office to receive victims’ submissions. James Langton James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994. Save Stroke 1 Print Group 8 Share LI logo