The charges against Madoff, with possible sentences

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THE CHARGES

(With maximum prison sentences)

Securities fraud (1 count): Alleges Madoff ran a Ponzi scheme out of his investment firm for more than 25 years. Penalty: 20 years

Investment adviser fraud (1 count): Alleges that as investment adviser, Madoff defraud his clients for more than 25 years. Penalty: 5 years

Mail fraud (1 count): Alleges that Madoff used the mails to perpetrate his fraud. Penalty: 20 years

Wire fraud (1 count): Alleges that Madoff used wire communication such as the telephone, faxes and computers to carry out his fraud. Penalty: 20 years.

International money laundering (1 count): Alleges that Madoff transferred funds from his business in New York to his offices in London and back again to carry out a fraud. Penalty: 20 years

International money laundering (1 count): Alleges Madoff transferred funds back and forth to Europe to disguise their nature as proceeds of a crime. Penalty: 20 years

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Money laundering (1 count): Alleges that Madoff diverted more than $54 million from an employee benefit fund. Penalty: 10 years.

False statements (1 count) Alleges that Madoff gave false statements to the Securities and Exchange Commission. Penalty: 5 years

Perjury (1 count) Alleges that Madoff gave false testimony to the SEC under oath in 2006. Penalty: 5 years.

False filing (1 count): Alleges that Madoff filed false documents with the SEC in 2007. Penalty: 20 years

Theft from an employee benefit plan (1 count): Alleges that Madoff stole $10 million in funds from pension plans of 35 labor unions. Penalty: 5 years.

Total potential prison time: 150 years

Sources: Federal court records, U.S. Attorney's Office in Manhattan

Disgraced Wall Street financier Bernard Madoff leaves US Federal Court after a hearing in New York. Madoff has agreed to plead guilty to 11 counts of fraud, his lawyer said in court. Photo Credit: AFP/Getty Images

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