May 14, 2009 10:50 am US/Eastern
Madoff Sentencing Postponed Until June 29
Almost 9K Claims Made In Madoff Scam
NEW YORK (CBS) ―
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Bernard L. Madoff leaves Federal Court Jan. 14, 2009, after a hearing regarding his bail in New York.
Timothy A. Clary/AFP/Getty Images
The sentencing of disgraced financier Bernard Madoff has been postponed until June 29.
U.S. District Judge Denny Chin had originally set the date for June 16. He changed it on Thursday without explanation.
The 70-year-old Madoff pleaded guilty March 12 to running a massive Ponzi scheme that cost investors $65 billion. He faces up to 150 years in prison.
A large number of Madoff's victims are expected to speak when he is sentenced in federal court.
Judge Chin has requested victims who wish to speak to e-mail the U.S. Attorney's office at usanys.madoff@usadoj.gov by June 10 at 5 p.m. The e-mail should include a brief explanation of why the victim wishes to be heard at the sentencing.
Madoff has been in prison since pleading guilty to 11 felony counts including securities fraud and perjury.
The trustee overseeing the liquidation of Bernard Madoff's assets says he's received almost 9,000 claims from the disgraced financier's victims.
Court-appointed trustee Irving Picard told reporters Thursday on a conference call that he's identified about $1 billion in assets that will be used to pay the claims.
He's also filed lawsuits seeking to recover more than $10 billion in fictitious profits paid out by Madoff's firm.
(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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