Washington DC: Lawyers from the US Justice Department and Mr. Madoff's lawyers have reached an agreement as to the punishment for his outrageous long running Wall Street financial Ponzi scheme.
Mr. Madoff is to cede all his family's liquid assets, personal property and hidden wealth to the US Court Appointed Bankruptcy Trustee for rebate of these holdings to the scammed investors. In return he is to serve no jail time and is to leave the USA permanently, giving up his US passport, going into exile in the country of Nigeria.
Jambalaya Mooboobu the Nigerian Embassy's Third Undersecretary for Banking Affairs proposed this exile arrangement to the new US Secretary of State. She agreed and called the new US Attorney General who also agreed.
It seems that the Central Bank of Nigeria, Lagos has fallen on economic hard times. The bank has been unable to entice all those people in the USA who receive their gracious emails, letters and faxes about various business proposals to respond with any sizable transfer of funds. Mr. Madoff will bring his invaluable financial expertise to his new position as the Central Bank of Nigeria's Chairman of New Business Opportunity Development to alleviate this shortfall. (Note that Mr. Madoff's predecessor was executed for not being able to achieve this goal.)
This news of Madoff's exile has sent a sigh of relief through the Securities Exchange Commission (SEC) executives charged with performing Wall Street oversight.