DOJ opposes Madoff sentence reduction for 'one of history's worst fraudsters'

The U.S. Justice Department opposed a sentence reduction for convicted Ponzi schemer Bernie Madoff, calling him "one of history's worst fraudsters," on Thursday.

"Denying Madoff's motion will uphold his victims' and the public's faith in our system of justice," the opposition read. "It will send the message that after a just conviction and a sentence appropriate to the crime, one of history's worst fraudsters cannot escape the full consequences of his criminal conduct, even when those consequences include spending his last days in prison. Madoff's motion should be denied."

BERNIE MADOFF CUSTOMER PAYOUT NEARS $14 BILLION

The statement comes after the Justice Department asked Madoff's victims to give their input on his request for a sentence reduction due to his bad health.

In a court filing obtained by FOX Business, Madoff's attorney Brandon Sample filed a "Motion for Compassionate Release" earlier this year, stating:

"Madoff presents 'extraordinary and compelling reasons' for compassionate release and the BOP (Bureau of Prisons) recognizes that Madoff meets the criteria for a reduction in sentence based on his end-stage renal disease," he wrote.

Madoff is in prison for running the largest Ponzi scheme in history. He ripped off more than $64 billion. Madoff's scheme lured investors by guaranteeing amazingly high returns, but he was in fact paying early investors with the investments of later investors.

CLICK HERE TO READ MORE ON FOX BUSINESS

The scheme lasted several years as Madoff and his family lived an opulent lifestyle. But the "business" came crashing down in 2008 as the financial crisis was in full swing and his clients requested a total of $7 billion back in returns.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

FOX Business' Suzanne O'Halloran contributed to this report.