Why didn't Madoff wait for a trial?

[spotbird]

There was no reason to plead guilty without a deal. He is an old man, so if he demanded a trial he could have avoided jail for another year or two. With the guilty plea he simply went to jail sooner than if he had gone to court, both ways he isn't cooperating with authorities to protect his family. In theory, the prosecutors will pursue Madoff's family just as aggressively either way, so what was the rush for Bernie?

Any theories?



.......


Some of Madoff's thousands of victims have said they were angry that Madoff had been allowed to plead guilty, as this means he will avoid a full jury trial.

The victims had hoped that such a trial would have allowed the full details of the crime to be revealed.

"If there will not be a trial... a lot of this information that people want to hear about... may not come to light," said victim Richard Friedman.

http://news.bbc.co.uk/1/hi/business/7941464.stm

[Demeter]

1. Maybe He Couldn't Afford a Defense

Lawyers are expensive. He probably bilked them all and their families.

[spotbird]

2. His wife has $90 million

The outcome was certain, so he didn't have to spend much on attorney fees actually defending himself. It's just baffling that he didn't just stay home until the government proved its case.

[burythehatchet]

3. Becasue this was more money laundering and less ponzi. And the people

whose money he was laundering would not want to be exposed. My guess is we would know many of the names.

[truth2power]

8. What the OP said...I've wondered that, too. I think you've nailed it..

Money laundering, just like BCCI. And if Madoff went to trial he probably wouldn't live another two weeks.

Could be some of that money went to finance Cheney's assassination teams. And Cheney plays for keeps.

[screembloodymurder]

9. Bingo!

His co-conspirators wanted the story off the front page.

[stillcool]

4. I guess the government..

wants to keep a lid on it.

[benddem]

5. he didn't want to be put under oath

and have to name names.

[spotbird]

6. He wouldn't have to testify at his own trial. nt

[Delphinus]

7. I'm thinking it's because

he didn't want the whole "truth" to come out - accomplices, etc.

[leftofthedial]

10. he stole enough for his progeny to live like royalty after the global apocalypse.

He's sacrificing himself for his genetic imprint on the future world.