Madoff sent to North Carolina prison to begin sentence
Bernie Madoff's mailing address for the next 150 years: Butner, North Carolina.
From the Wall Street Journal:
The Federal Bureau of Prisons [Monday] sent the 71-year-old Mr. Madoff to the Butner Federal Correctional Complex, about 30 miles north of Raleigh, and an eight-hour drive from New York City.
It isn't where Mr. Madoff's lawyer, Ira Sorkin, had asked that his client be housed. He had requested the Federal Correctional Institution in Otisville, N.Y. U.S. District Judge Denny Chin, who handled Mr. Madoff's criminal case in Manhattan, indicated he would recommend that the Ponzi-scheme operator serve his time in the Northeast.
Butner includes two medium-security prisons and a low-security prison, as well as a medical facility.
Also doing time at Butner: Adelphia Communications founder John Rigas and his son Timothy, both of whom were convicted of securities fraud in 2004. They're in the low-security prison on the site, the Journal said.
-- Tom Petruno
Just another reality check for Madoff. Perhaps he can hold "financial education seminars" for his fellow inmates. The first lecture will be titled, "If it looks to good to be true"...
Posted by: Michael Snyder | July 14, 2009 at 05:35 AM
Watch out for that banjo music, Bernie!
Posted by: AMD | July 14, 2009 at 05:45 AM
Butner Federal isn't where Mr. Madoff's lawyer, Ira Sorkin, had asked that his client be housed. Mr. Madoff had originally requested the Royal Plaza Suite at the New York Plaza hotel for its superior room service.
Posted by: Nikkei 225 | July 14, 2009 at 07:48 AM