Ponzi

Madoff Cutting a Deal?

Could Bernie Madoff be looking to plead out and avoid a trial? That’s what The New York Times thinks is behind Monday’s court order that says Madoff’s attorney is “engaging in discussions concerning a possible disposition of this case.” “He’s trying to cut a deal,” an attorney unconnected with the case tells The Times. “The only other possible ‘disposition’ that could be negotiated would be for the government to drop the whole case—and that’s not going to happen.” A judge Monday declined prosecutors’ request to revoke Madoff’s bail. Meanwhile, The Wall Street Journal reports on efforts to find out how a Spanish bank, Banco Santander, lost $3.1 billion worth of clients’ money in Madoff’s alleged schemes.