Madoff Moved to NC Prison

Conman resigned to life in prison

(NEWSER) - Bernie Madoff will do his time, his lawyer said today. The 71-year-old con man sentenced to 150 years in prison on a slew of fraud charges related to his massive Ponzi scheme won’t file an appeal, Bloomberg reports. “In terms of the appeal, done, over,” Madoff’s attorney Ira Sorkin said today. More»

(NEWSER) - Alec Baldwin throws water on the general celebration of Bernie Madoff's prison sentence, arguing that the 150-year term handed down to the fraudster Monday was a wasted opportunity. "I want to suggest, as I am confident others have, that Madoff be given a reduced sentence in exchange for answering every question that investigators ask regarding how he did what he did and what are his recommendations for how this might be detected and/or prevented in the future," the actor writes for the Huffington Post. More»

Bernie shoves another senior citizen in stock market argument

(NEWSER) - Scam king Bernie Madoff got into a shove match with another con during an argument about the stock market, according to jailbird witnesses. Another oldster con at the North Carolina fed pen where Bernie's serving 150 years shoved Madoff as the argument escalated. Madoff pushed back, causing the other inmate to stumble. "I didn't think Bernie had it in him. The other guy was in shock that he fought back," an inmate told the New York Post. The two ducked punishment because the confrontation wasn't spotted by guards. More»

(NEWSER) - A high-flying New York lawyer who orchestrated a Ponzi scheme to fund his lavish lifestyle has been sentenced to 20 years in jail, the New York Times reports. Marc Dreier pleaded guilty to charges including conspiracy and securities fraud relating to the scam, which bilked hedge funds and other investors of some $400 million. Prosecutors had asked for a sentence of 145 years, just 5 years short of the 150 years Bernard Madoff was slapped with. More»

Not enough evidence to nab Bernie's wife in Ponzi scheme

(NEWSER) - Ruth Madoff won’t be prosecuted in her husband’s giant Ponzi scheme, insiders tell the New York Post, because the feds didn't find enough evidence against her after a 6-month probe. She had “no criminal exposure,” one source says. But if something new turns up, authorities could still pursue her. Meanwhile, another source notes, “she’s lost everything she holds dear” in a deal to sell assets to get cash for victims. More»