Bernie Madoff’s lawyer Ira Lee Sorkin has told the judge in his case that there is a “reasonable expectation” the supervillain will plead guilty on Thursday. Assuming this isn’t some sort of feint, Judge Denny Chin will decide at that time whether to put Madoff in jail pending sentencing or let him wait out that phase of the process in his townhouse. Sorkin also acknowledged there is a possible conflict of interest between him and his client as the lawyer’s family invested nearly a million dollars in the Madoff ponzi scheme, but Judge Chin waived it. You can review recent revelations in the case — the use of employees to fabricate trades, Madoff’s waiving of a grand jury, etc. — at our business and finance blog, The Smart Asset.