According to CNBC (not our favorite station these days, but I don't think they're making stuff up - they're just rather shallow) and as reported by the Huffington Post, a plea deal between Madoff and the Attorney General may be in the works.
The Attorney General in New York has filed a notice of intent to file an information. This is the first step prosecutors often take when they believe a defendant, in this case Madoff, may waive his right to a grand jury indictment.
Of course, Madoff kind of confessed already...
"Any such waiver of indictment strongly suggest that the parties are close to a plea bargain," said John Coffee, professor of law at Columbia University.
The US Attorney General had no comment.
This does not mean no punishment...
The minimum term, according to Coffee, would be for one count of securities fraud, which carries of maximum of 20 years. "I would think there would be public outcry with only one count indictment, although that is what defense would like," Coffee said.
And a plea can often be useful in that it expedites the situation. However, I hope that he is properly punished.
To read more about it go here