Bernard Madoff’s brother, Peter Madoff, should get a 10-year prison term for his role in perpetuating the multibillion-dollar fraud, US prosecutors said. Peter Madoff pleaded guilty in June in federal court in Manhattan to helping his brother pull off the biggest Ponzi scheme in US history, though Peter denied knowing the business was a sham until the firm collapsed. As part of his plea agreement, Madoff agreed not to seek a sentence other than the 10-year term, prosecutors said. “The government submits that a sentence of 10 years is reasonable and appropriate in this case,” assistant US attorneys Lisa Baroni and Julian Moore said yesterday in a memo to the judge who will sentence Madoff. More in the Business Standard here.
