Bernie Madoff to Plead Guilty to 11 Felony Counts

There is no plea bargain in place for Bernie Madoff. Instead, he will simply plead guilty to all of the felony charges brought against him by the government. Once his official plea is entered in court tomorrow, the only remaining issues related to his punishment will be determining his sentence as well as whether or not he would be released on bail while he awaits that sentencing.

While investigators continue working to try to unravel the depth and the details of Madoff's ponzi scheme, the numbers keep piling up. At this point, it is estimated that Madoff bilked investors out of over $60 Billion in assets over the course of 3 decades of running his fraudulent operation.

It's important to note that not all of that money is actually gone, since Madoff never really invested it in anything. He used new investment money to pay off older investors and allowed many clients to draw from their fictitious earnings on their investments. As a result, the work of trying to figure out where all the money is and who is owed what could likely take years to fully vet.

At least $1 billion in existing assets have been located, although investigators still have no idea how to allocate that money. At this point it seems a safe bet that Madoff will spend the rest of his life in a minimum security prison, but stranger things have certainly happened.