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Bernard Madoff's Guilty Plea Allocution - Statement to the Court

U.S. v. Bernard Madoff

March 12, 2009

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Lawyers
  • Ira Sorkin, Madoff's Lead Defense Lawyer
  • Daniel Horwitz, Madoff Defense Lawyer
  • Nicole De Bello, Madoff Defense Lawyer
  • U.S. Attorney, S.D.N.Y.
  • White Collar Criminal Defense Lawyers


  • Related Links:
  • Criminal Information (U.S. v. Madoff)
  • Madoff's Original Criminal Charges
  • Notice of Intent to Settle
  • Madoff's Bail Order (Jan. 12, 2009)
  • Congressional Testimony of Financial Fraud Investigator
        Harry Markopolos About Madoff Ponzi Scheme
  • S.E.C. Charges Against Madoff
  • Financial Crisis Special Coverage


  • When Bernard Madoff pleaded guilty in federal court, he read this six-page allocution to Judge Denny Chin and the victims of his felonies.

    The former investment manager admitted:

    As I engaged in my fraud, I knew what I was doing was wrong, indeed criminal. When I began the Ponzi scheme, I believed it would end shortly and I would be able to extricate myself and my clients from the scheme.
    Madoff emphasized that while he used investment advisory business to commit crimes:
    …the other businesses my firm engaged in, proprietary trading and market trading, were legitimate, profitable and successful in all respects…managed by my brother and two sons.

    You can read Madoff's guilty plea to and complete admissions below:


     

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