Madoff sentencing set for June 29

The sentence for Wall Street fraudster Bernard Madoff will be delivered on June 29, a federal judge announced in New York on Thursday.

The sentence for Wall Street fraudster Bernard Madoff will be delivered on June 29, a federal judge announced in New York on Thursday.

HT Image

He could be sent to prison for up to 150 years.

Judge Denny Chin said the sentencing, originally scheduled for June 16, had been postponed for unspecified reasons.

The judgement will be revealed at the Daniel Patrick Moynihan courthouse in lower Manhattan, and some victims of Madoff's massive fraud scheme will be able to read the terms, Chin said.

Madoff, 71, operated the fraud for decades, conning investors into depositing billions of dollars that were then used to pay ficticious returns.