New York financier Bernard Madoff, accused of a $50 billion Ponzi scheme, may be near a plea deal with prosecutors.
U.S. prosecutors intend to file a criminal “information,” “upon the defendant’s waiver of an indictment,” a document filed in U.S. district court in Manhattan says, according to Reuters.
“Madoff is about to enter his guilty plea,” Jacob Frenkel, a former Securities and Exchange commission attorney told Bloomberg. “A criminal information is a consented-to criminal charge used to enter a guilty plea.”
One of Madoff’s lawyers, Dan Horwitz told Bloomberg today his client “intends to waive” an indictment. However no criminal information has been filed in court he added. He wouldn’t say if Madoff planned to enter a guilty plea.
There is a hearing scheduled for March 12 regarding the charges, said a clerk in the court of U.S. District Judge Denny Chin, who was assigned the case.
Prosecutors have until March 13 to indict Madoff or reach a plea deal.