Madoff seeks sentence reduction for epic Ponzi scheme

NEW YORK (AP) — Epic Ponzi schemer Bernard Madoff is seeking an early release from prison.

The Department of Justice confirmed on Wednesday that Madoff has a pending request to get his 150-year sentence reduced.

It was unclear when the 81-year-old Madoff made the bid for President Donald Trump to commute his sentence. The lawyer who represented him in his criminal case declined comment on Wednesday.

Madoff pleaded guilty in 2009 to orchestrating the largest Ponzi scheme in history. He swindled thousands of clients out of billions of dollars in investments over decades.

A court-appointed trustee has recovered more than $13 billion of an estimated $17.5 billion that investors put into Madoff’s business.

Madoff is serving his term in a North Carolina prison.

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