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Hedge Fund Manager Defended by Madoff’s Lawyer Gets 40 Months

Bloomberg – A hedge fund manager who used the same defense lawyer as Bernard Madoff received a sentence that was a third of the maximum possible after he was convicted of defrauding investors out of $10 million.

Vincent Montagna remains free on bail more than two years after pleading guilty. He was sentenced to 40 months in prison instead of a possible 9-year term. His lawyer, Ira Sorkin, also represents Madoff, the New York investment adviser U.S. prosecutors accused of running a $50 billion Ponzi scheme.

Though Montagna and Madoff aren’t known to be connected beyond their choice of attorney, the case may provide a window on Madoff’s prospects in avoiding or reducing the maximum 20 years in prison he faces if convicted. Madoff, 70, is free on bail, though restricted to his Manhattan apartment.

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