Sentencing delayed for Madoff five

The sentencing of five former aides to Bernard Madoff was delayed until mid-September after a federal judge in New York said 'voluminous' paperwork required a postponement of hearings originally scheduled for for later this week.

Bloomberg News reports that the three days of hearings will begin September 15, U.S. District Judge Laura Taylor Swain said in a court order.

She oversaw a five-month trial in Manhattan federal court which ended in convictions for all five defendants. Sentencing for the three men and two women had been set to begin July 28.

A Manhattan jury in March found them guilty of aiding Madoff’s $17.5bn Ponzi scheme for decades. The convictions, following the first criminal trial stemming from the fraud, gave prosecutors a sweeping victory in an investigation that spanned more than five years.

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Madoff Five Judge Delays Sentencing Until September

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