25 Jun 2009

Fraudster seeks reduced sentence

10:05 am on 25 June 2009

US financier Bernard Madoff is seeking a reduced jail sentence for defrauding investors of $US50 billion.

His lawyer says his client deserves 12 years in prison for his crimes.

In March, Madoff, 71, pleaded guilty to 11 charges of fraud.

He will be sentenced on 29 June and could be jailed for up to 150 years.