[ by Larry Goldfarb ]

Prosecutors in New York asked a federal judge to sentence Bernie Madoff's younger brother to 10 years in prison for the role he played in the multibillion-dollar Ponzi scheme. Peter Madoff pled guilty in Manhattan federal court in June to criminal charges including conspiracy to commit securities fraud and making false filings with the U.S. Securities and Exchange Commission.

As part of Peter Madoff's June plea deal, he agreed not to seek a sentence other than 10 years, according to the filing.

Peter Madoff "committed very serious crimes that served to conceal and perpetuate a multi-billion dollar fraud scheme" and "engaged in a vast fraud scheme by which tens of millions of dollars were transferred within the Madoff family" to avoid paying taxes and enrich himself and his family, the filing said.  Peter Madoff is scheduled to be sentenced on Dec. 20, 2012.

Peter Madoff served as the chief compliance officer and senior managing direct of Bernard L. Madoff Investment Securities. At his plea hearing, he denied knowing about Bernard Madoff's decade-long fraud until his brother confessed to him in December 2008.

The case is U.S. v. O'Hara et al, U.S. District Court, Southern District of New York, No. 10-cr-00228.

For more information, please read [Reuters, 12/14/12].