Federal prosecutors have until Wednesday to indict Bernard Madoff or seek a second extension from the court handling the case. AFP reports that prosecutors in the SDNY would not reveal their plans, saying only that both options remained available. Prosecutors and Madoff already agreed to a 30-day extension in mid-January, and AFP reports that many observers believe the same thing will happen Wednesday.
Robert Mintz, a former federal prosecutor now with law firm McCarter and English stated that “all outward indications are that what’s happening is that there are intense negotiations going on…. The fact that he has settled with the SEC is an indication that his lawyer is working toward a global resolution of all these matters, including the criminal case.”