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March 12, 2009 10:13 AM

Live Blogging the Madoff Hearing: The Prosecutors Enter and Madoff Says He's Ready to Plead Guilty

Posted by Brian Baxter

Assistant U.S. attorneys Marc Litt, Lisa Baroni, and four FBI agents have taken their seats.

Madoff's lawyer, Ira Sorkin, just told Judge Chin that Madoff is ready to plead guilty to all 11 counts against him. Madoff will read an allocution, or statement, to cover all 11 counts. He's taken a drink of water and told Chin that he understands the charges against him and that he's clear of mind, given the circumstances.

Chin then said that he’s found Madoff competent to enter a guilty plea. He's begun reading the charges against Madoff to the court. He's gotten through them.

Madoff - no surprise here - tells Chin that he plans to enter a guilty plea today.


Live Blogging the Madoff Hearing
:

Bernie Makes His Entrance - 3/12/09, 9:56 a.m.

Waiting for Bernie - 3/12/09, 9:40 a.m.

The Circus in Foley Square - 3/12/09, 9:30 a.m.

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