"NEW YORK: A lawyer for the disgraced financier Bernard Madoff told a U.S. judge on Tuesday that Madoff was expected to plead guilty later this week to charges that could result in his spending the rest of his life in prison. The defense lawyer, Ira Lee Sorkin, said that Madoff, 70, was expected to admit in court that he was the mastermind of a huge Ponzi scheme that cheated thousands of investors out of billions of dollars. He will do so without receiving a plea deal from prosecutors." - Steven Perez from Bookmarklet

Hopefully he is sent to federal pound-me-in-the-ass prison - Peter Ghosh

Are the prosecutors really buying that his sons had absolutely no involvement in the scheme? His sons, who when the feds were closing in last year, transferred their homes to their wives' names? - Andrew C (✓)

If I discovered my dad was doing that and I also worked for a related company 2 floors up, my house would be in my wife's name too. - Peter Ghosh

Months before he turned himself in? They're conspirators, then. - Andrew C (✓)

HAHAHA! He mad-off with nothing but life in prison! - Michael Forian

I thought the sons turned him in? - Peter Ghosh

Yeah, the sons "turned him in". I remain skeptical. http://www.businessinsider.com/2009... And those suspicious houses transfers happened two years ago: http://www.cbsnews.com/stories... - Andrew C (✓)

@Michael: yeah, he "mad-off with nothing but life in prison" and decades living the high life on a massive scam, and a wife who claims she has around $70M that weren't proceeds of that crime, plus who knows what other assets he's been able to hide so far. - Andrew C (✓)

@Andrew: the kids were smart by turning him in so they could live off the assets too! Meh, I bet the bastard will write his memoirs in prison and publish it in a few years. I'd probably buy it. - Michael Forian