The federal sentencing guidelines in this article appear to be correct. I didn't bother doing the calculation, since 10 years for a 70 year old is effectively a life sentence.
The sentencing guidelines are complicated, and the sentence is determined by adding up points based on a variety of factors. Number of victims, dollar amount of the losses, etc. A quick review of the guidelines, which are complicated, total offense level is off the chart. Yes, the sentencing guidelines chart only goes to 43 points, which is a life sentence, literally, for most crimes. It is difficult to get that high. Very difficult. By my calculations, on only ONE count of an indictment, the point total would be above 50.
There are deductions, and other adjustments, but someone convicted of a fraud of this magnitude gets a sentence that is more than 30 years. As I said, a life sentence.
If convicted, Bernard Madoff faces life in prison
UPDATE - before someone else comments to tell me that 80 is not a life sentence, please note that I specifically said I did not do the calculation. My point was, that the sentence will be so long that it will be a life sentence. I understand that people live to be 80.The sentencing guidelines are complicated, and the sentence is determined by adding up points based on a variety of factors. Number of victims, dollar amount of the losses, etc. A quick review of the guidelines, which are complicated, total offense level is off the chart. Yes, the sentencing guidelines chart only goes to 43 points, which is a life sentence, literally, for most crimes. It is difficult to get that high. Very difficult. By my calculations, on only ONE count of an indictment, the point total would be above 50.
There are deductions, and other adjustments, but someone convicted of a fraud of this magnitude gets a sentence that is more than 30 years. As I said, a life sentence.
