March 12 (Bloomberg) -- Bernard Madoff, facing a lifelong sentence for the largest Ponzi scheme in history, didn’t agree to a plea deal with prosecutors because of their demand that he admit to a conspiracy, a charge that would require him to say he worked with others, said people familiar with the matter.
Madoff’s decision not to negotiate a deal means the government won’t have his help in determining whether his employees assisted in the fraud, the people said. Madoff, 70, will plead guilty today to all 11 counts he faces without any promise of leniency or anything else in return. He could receive 150 years in prison at sentencing on charges including fraud, perjury and money laundering.
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