Bernie Madoff Scandal: Where Are They Now?
A year after disgraced financier Bernie Madoff pleaded guilty to a $65 billion Ponzi scheme and was sentenced to 150 years in prison, TIME recaps what has transpired for the major players
Bernie Madoff
After pleading guilty last March to 11 counts of fraud related to his $65 billion, long-running Ponzi scheme, Bernie Madoff was sentenced to 150 years in prison. Under federal court rules, he must serve at least 80% of his sentence, or 120 years, before being eligible for parole. The 71-year-old better get comfortable at his medium-security home the Butner Federal Correctional Complex, outside of Raleigh, N.C. Currently his release date, on the prison's website, is listed as Nov. 14, 2139.
Inmate No. 61727-054 purportedly spends about eight hours a day working in Butner's engraving section, making nameplates for desks and doors. He sleeps on the lower bunk of the cell he shares with a drug offender and gets three hours of free time in the evenings. Apparently some of that recess includes debating other inmates. In October, it was reported that Madoff got into a heated discussion about the state of the stock market with another jailbird that escalated into a shoving match before the other man backed off. One inmate who witnessed the fight told the New York Post, "[Bernie] got the best of him."
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