Bernard Madoff set to be sentencedPosted: Updated:
(AP) - Disgraced financier Bernard Madoff is due backin court to hear his punishment for running a massive Ponzi scheme. Madoff's lawyer has asked a judge to give his 71-year-old client12 years behind bars. Prosecutors plan to seek a 150-year prisonterm. Ten victims have sought permission to speak at Madoff'ssentencing Monday in federal court in Manhattan. Madoff also isexpected to speak. The former Nasdaq chairman was arrested late last year afterconfessing to his sons that his secretive investment advisorybusiness was a "big lie." He pleaded guilty to securities fraudand other charges in March and has been jailed ever since.