Madoff Dying of Cancer: Inmates

(NEWSER) - Contrary to what you might have read in the New York Post, Bernie Madoff does not have cancer, Bloomberg reports. “While the N.Y. Post story is full of inaccuracies, and we can’t specifically address all of them, we can tell you that Bernie Madoff is not terminally ill, and has not been diagnosed with cancer,” a Bureau of Prisons spokeswoman says. The Post reported that he might have pancreatic cancer. His lawyer offered little help in clarifying the situation: “I don’t discuss my client’s physical or mental condition.” More»

But he is in the doghouse with Ruth

(NEWSER) - The New York Post got a little excited on today's front page, promising a look "Inside Madoff’s Prison Hell." But that turns out to be a bit of wishful thinking: “Some of the guys were talking about smacking him around a little, just to get the notoriety of it,” says a source, but no beatdown actually occurred—and in fact, the Post reports, “he got a lot of respect from other inmates” for not being a snitch. More»

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»

(AP) - Bernie Madoff's new Manhattan home is the size of a walk-in closet, with cinderblock walls, linoleum floors, and a bunk bed. Breakfast will be served before sunrise, and the disgraced financier can stretch his legs outside, but only every other day—in a cage. The Metropolitan Correctional Center took in the 70-year-old Madoff today after he pleaded guilty to running his massive Ponzi scheme. He'll be sentenced in June. More»

Banks buying up Ponzi claims to cash in later

(NEWSER) - The wizards of Wall Street have found a way to turn Bernard Madoff into a hot investment. Big banks have been buying up the claims of the victims of Madoff's massive Ponzi scheme, offering scammed investors a fraction of what they are owed in the hopes of making big profits later as a court-appointed trustee chases down the Madoff money and makes settlements, reports the Wall Street Journal . More»