Madoff sentencing postponed
NEW YORK — The sentencing of disgraced financier Bernard Madoff has been postponed until June 29.
U.S. District Judge Denny Chin had originally set the date for June 16. He changed it on Thursday without explanation.
The 70-year-old Madoff pleaded guilty March 12 to running a massive Ponzi scheme that cost investors billions of dollars. He faces up to 150 years in prison.
A large number of Madoff’s victims are expected to speak when he is sentenced in federal court.
Madoff has been in prison since pleading guilty to 11 felony counts including securities fraud and perjury.
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