Madoff, 81, has terminal kidney failure and a life expectancy of less than 18 months, according to the filing.
He was arrested in December 2008 on allegations that the prestigious asset management firm he ran in Manhattan was in fact a pyramid-type scheme that swindled billions of dollars from thousands of people. He pleaded guilty to 11 felony charges related to money laundering, perjury and falsifying financial documents. He began his prison term in July 2009.
When the court sentenced him, “it was clear that Madoff’s 150-year prison sentence was symbolic for three reasons: retribution, deterrence, and for the victims,” the court filing states. “This Court must now consider whether keeping Madoff incarcerated … is truly in furtherance of statutory sentencing goals and our society’s value and understanding of compassion.”