June 30, 2009 Tuesday
Updated

June 30, 2009
10 to be charged in Madoff fraud
Disgraced financier Madoff (left), 71, was sentenced to 150 years imprisonment on Monday after he pleaded guilty in March to orchestrating a worldwide investment scheme of as much as US$65 billion (S$94.1 billion). --PHOTO: AP

NEW YORK - TEN or more people associated with multibillion dollar swindler Bernard Madoff could face criminal charges in investigations in the coming months or beyond, a law enforcement source said on Tuesday.

Disgraced financier Madoff, 71, was sentenced to 150 years imprisonment on Monday after he pleaded guilty in March to orchestrating a worldwide investment scheme of as much as US$65 billion (S$94.1 billion).

'When all is said and done, the FBI thinks there is a good chance it will be able to charge 10 or more people,' said the law enforcement source, who asked not to be identified because the investigation is continuing. -- REUTERS

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