Alleged fraudster Bernard Madoff and Securities and Exchange Commission reached a partial judgment on Monday for Madoff without admitting or denying fraud charges to pay a civil fine and return investor's money.
The proposed partial judgment would leave the issues of the amount of disgorgement, prejudgment interest and civil penalty to be imposed against Madoff to be decided at a later time, the SEC said in a statement.
Madoff is facing criminal and civil charges in US District Court in Manhattan after he allegedly admitted to running a Ponzi scheme over many years with losses amounting to $50 billion. He could face 20 years in prison for one count of securities fraud.
The US attorney for the Southern District of New York has until February 11 to formally indict Madoff.