Bernard Madoff (C) walks out from Federal Courtroom after a bail listening to in Manhattan January 5, 2009 in New York Metropolis. Madoff is accused of working a $50 billion Ponzi scheme by means of his funding firm.
Hiroko Masuike | Getty Photographs
It is unlikely President Donald Trump will grant clemency to Ponzi schemer Bernard Madoff, in accordance with a lawyer who has been engaged on commuting the sentence of the disgraced financier. But the lawyer stated he lobbied prime officers to get Madoff’s 150-year sentenced decreased.
James Craven, the Madoff-linked lawyer, despatched letters to Treasury Secretary Steven Mnuchin and Rep. Jim Himes, D-Conn., in an try to chop Madoff’s sentence, the lawyer instructed CNBC in an electronic mail.
Brandon Pattern, Madoff’s lawyer, referred CNBC to Craven because the “lawyer who has been engaged on clemency for” the previous Wall Road tycoon.
These letters were sent in addition to a petition for clemency to the Department of Justice. Madoff, who has stated that he’s dying of kidney illness, didn’t ask for a pardon.
“I’ve contacted Secretary of the Treasury Steve Mnuchin and Congressman Jim Himes of Connecticut, the place Ruth Madoff lives,” Craven stated in an electronic mail when requested what past the petition has Madoff’s staff tried to make use of for a discount in jail time.
Ruth Madoff is Bernie Madoff’s spouse. She has lived for years in Greenwich, which is a part of Himes’ district.
Craven stated there was “no response to 2 or 3 letters to Mnuchin.”
“Himes responded as a result of he’s Ruth’s congressman, and somebody in his workplace stated they’d look into it,” Craven added. He stated there was no response from Mnuchin.
He declined to say when the letters have been despatched, or to supply copies of that correspondence.
A consultant for Himes confirmed that the workplace did obtain an lawyer’s request to look right into a Madoff clemency situation, and they didn’t intervene.
“As a rule, Congressman Himes’s workplace doesn’t contain itself in judicial proceedings. On this case, we obtained an inquiry from a constituent’s lawyer asking us to look right into a clemency situation,” Patrick Malone, a spokesman for Himes’ workplace, instructed CNBC. “After reviewing the request, a willpower was made to not intervene on the constituent’s behalf.”
Representatives for the Treasury Division didn’t return repeated requests for remark.
Craven stated that he’s not satisfied that Trump will commute Madoff’s sentence as a result of “his case isn’t probably the most sympathetic.”
Trump is predicted to pardon or commute dozens of individuals during his final day in office.
In early 2020, Madoff asked a federal judge to grant him an early launch after revealing he had terminal kidney illness and saying that he had lower than 18 months to stay. The judge later denied that request.
Mnuchin, along with having a direct line to Trump, has a connection to the Madoff case.
ProPublica reported in 2016 that after Mnuchin inherited the funding portfolio of his mom, who reportedly was a long-time investor with Madoff, he and his brother liquidated its property.
The liquidation led to the Mnuchins making $3.2 million, ProPublica reported on the time.
The trustee appointed to recoup cash for individuals who have been swindled out of their investments with Madoff later sued to claw again the cash from the Mnuchins. However that case was later dropped as a result of time restrictions, according to the BBC.