July 13, 2009
Madoff on Move to Federal Prison in N.C.
Disgraced Financier Being Transported from Manhattan to Medium Security Facility in Butner, North Carolina
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(CBS/iStockphoto)
Madoff was sentenced last month to 150 years in prison after previously pleading guilty to a fraud that unraveled last December when Madoff confessed to his sons that nearly $65 billion he promised investors was safe was actually only worth a few hundred million dollars.
He left his 7 1/2 by 8 foot jail cell at the Metropolitan Correctional Center in Manhattan Monday morning and was taken to an undisclosed location where he will await transport to North Carolina. In selecting Butner, the Bureau of Prisons rejected Madoff's lawyer's request that he be sent to Ottisville, N.Y - a location desired for its proximity to New York City.
Madoff's lawyers said last week that the former Wall Street heavyweight would not appeal the sentence.
At his sentencing, Madoff apologized to thousands of victims, describing his epic fraud as a "problem," "an error of judgment" and "a tragic mistake."
© MMIX, CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.
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- FIRING SQUAD....
- Reply to this comment
- It is obvious that jail time offers little suasion against him and others contemplating such actions.
The only thing that reins these guys in is their fragile "Masters Of The Universe" egos getting dinged.
SUGGESTION: Community service picking up garbage. If he refuses to comply, stir (solitary confinement, no media access, no books, no visitors...)
Such a punishment will really make the other financial hucksters out there think twice. If they get to rip people off, enjoy the spoils of such theft for years, and then not have to make restitution, other than sitting and cooling their heels, going forward it will really do nothing to disuade others. But having to pick up garabge for the cameras (demonstrating the consequences of their actions to the very people they were trying to impress) -that will make many of these [redacted expletive] think twice... - Reply to this comment
- Ok. I am not a mean person and I don't really have a problem with people not doing anything but to sit around in the prison, given 3 meals, a lot of free time, and have a better life than the homeless out there. Essentially spending our hard earn tax payer money.
However, in the case of Madoff, what I think should have happened is throw him a regular prison (he doesn't have to go to any maximum security prison) and make him work like all other people that he ripped off. What does he has to loose except the freedom? Basically he got his retirement all planned out. ALL TAKEN CARE OFF! Make him work for his meal. Make him work for his accommodation instead of wasting more of the tax money.
Plus, Mrs. Madoff got $2.5 Mil. out of this deal. How injustice is this? She claimed she doesn't know anything about it. I say not. She was spending his money wasn't she? So she is just a guilty. She can disappear to a small town with $2.5 and live without no worries.
This is not a good enough punishment as compared with people that he made homeless have to struggle to survive while he is all good. People that loose their entire life savings, people that can't buy food for their family. People that will never ever going to rebound, and people that suicide because of him.
Basically the scum should have a taste of the hell that he put them through. - Reply to this comment
- Both the Butner and the Ottisville federal complexes have medium and low security facilities. How much of someone else's money will his lawyers get for "arranging" his minimum security duplex on the golf course? His retirement home at our expense. What a hoot!
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- Does anyone love Bernie Madoff or care about him? For a Christian perspective on Mr. Madoff's circumstances and future copy and paste this link into your browser:
http://www.heaven4sure.com/MeandGodQuestions/LifeLessons/tabid/58/ctl/ArticleView/mid/387/articleId/625/Does-Anyone-Love-Bernie-Madoff.aspx - Reply to this comment
- If Madoff gets moved to more comfortable accomodations, it's his reward for cooperating with investigators by naming the names of his government co-conspirators.
This is getting good. - Reply to this comment
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- They already sent him to a place that IS relatively comfortable, he's GOTTEN his reward!
And whether he names, names--- the prosecutors AREN'T stupid, they can figure out who helped him! His help only saves them time and work!
So, you think, 'this is getting good'? The shows OVER for him, mister!
And possibly, for these ten other unannounced co-conspirators. The government would like to 'kill this' as quickly as they can! It's NOT their priority to go after white-collar business crooks---many of whom they personally know---that's what the public wants!
- They already sent him to a place that IS relatively comfortable, he's GOTTEN his reward!
- WHEN will we hear the names of the 10 suspected co-conspirators?
THAT is when it will get really interesting.
Madoff is small potatoes compared to the REAL rats in our government who gave him a free pass even while he was under investigation for ELEVEN YEARS.
And yes, liberals, eleven is MORE than eight, so three of those years were on Clinton's watch.
Clearly this goes beyond just Democrat or Republican politics. This will lead to the ultra wealthy power elite who rule both parties.
WHO ARE THE MADOFF TEN???? - Reply to this comment
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- THAT is when it will get really interesting. (fm Darth)
Wrong! The big show is over now! But, you have to be able to realize it.
Madoff is small potatoes compared to the REAL rats in our government who gave him a free pass even while he was under investigation for ELEVEN YEARS. (fm Darth)
Madoff ran & operated the scam that defrauded the public, anyone else who participated---by not telling on him---is insignificant in comparison!
But, you have to be smart enough to recognize a major league player from a spectator!
Clearly this goes beyond just Democrat or Republican politics. This will lead to the ultra wealthy power elite who rule both parties. (fm Darth)
You 'picked up' on this though; at least you got ONE thing correct!?
Don't get yourself in a FRENZY! It ain't going to lead to the ultra
wealthy power elite, they're insulated and a lot SMARTER than YOU
give them credit for!
And yes, liberals, eleven is MORE than eight, so three of those years were on Clinton's watch. (fm Darth)
And yes, neocon fascists, EIGHT is MORE than three, and EIGHT of those years were on BUSH's watch! Not surprising.
While catching these others would be nice, most federal prosecutors happen to be conservative politically; so, don't expect a major effort
to catch fellow white-collar conservative business crooks, it isn't
going to happen! As demonstrated by the fact Madoff was allowed to
operate for decades!
- THAT is when it will get really interesting. (fm Darth)
- Madoff's next move will be to a country-club prison somewhere.
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- I hope his family goes down in flames too.
The ones that knew ..... you know they knew he knew that they knew too ..................... - Reply to this comment
- We pat-ourselves-on-the-back because the British Empire of Worthless Derivatives and Credit-Default Swaps throws us Madoff but keeps Goldman Sucks.
Goldman Sucks is free to loot peoples retirement funds with illegal market 'rigging' software and we think is cute-n-funny.
THE AMERICAN SUCKER...YOU GOTTA LOVE 'EM!
I would've rather seen Madoff free and the big king-pin Goldman Sucks shut down and their owners in jail. - Reply to this comment
- Troublesome need to punish in our society, does not equal justice. Instead we need to Dialogue, understand and forgive. Why not have him in a teaching postion, so as to tell others what Not to do, teach the SEC and the FBI and CIA what to look for. If we continue just BLAME game, we will not get anywhere. It is all our faults, when greed trumps dialogue.
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- I was thinking of retiring to NC myself but have so little money my options are very limited and the area I wanted to move to is remote. Life is strange.
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- The prison that he's apparently going to is a cake walk.
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- This is his reward for deciding to cooperate with investigators.
If Madoff names the names of the dirty rats in our government who gave him the free pass for 20 years, I'd let Madoff go free on the witness relocation program.
Those are the ones who really need to get busted. And I mean BUSTED.
- by darthcheney345 July 13, 2009 5:33 PM EDT
This is his reward for deciding to cooperate with investigators.
If Madoff names the names of the dirty rats in our government who gave him the free pass for 20 years, I'd let Madoff go free on the witness relocation program.
Those are the ones who really need to get busted. And I mean BUSTED.
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First, IF this is his reward, then it's a d*a*m*n funny one! He got 150 year sentence, Darth! You think THAT's a 'cake-walk'?! Unless, they cut
it some time in the future, he's going to die in prison.
Second, the people on Wall Street and the politicians in D.C. probably already know WHO gave him the 'free pass for 20 years'! Chances are, he
got the "light" 150 year sentence BECAUSE he didn't 'rat out' anyone else who might have assisted him. Because frankly, the conservative
prosecutors aren't looking to bust these white-collar business criminals! OK?! Because they don't want to know! THAT'S the reality!
Finally, I AGREE with you when you say those in government who assisted him really should be busted! ABSOLUTELY! No question about it!
- by darthcheney345 July 13, 2009 5:33 PM EDT
This is his reward for deciding to cooperate with investigators.
If Madoff names the names of the dirty rats in our government who gave him the free pass for 20 years, I'd let Madoff go free on the witness relocation program.
Those are the ones who really need to get busted. And I mean BUSTED.
=============================================
First, IF this is his reward, then it's a d*a*m*n funny one! He got 150 year sentence, Darth! You think THAT's a 'cake-walk'?! Unless, they cut
it some time in the future, he's going to die in prison.
Second, the people on Wall Street and the politicians in D.C. probably already know WHO gave him the 'free pass for 20 years'! Chances are, he
got the "light" 150 year sentence BECAUSE he didn't 'rat out' anyone else who might have assisted him. Because frankly, the conservative
prosecutors aren't looking to bust these white-collar business criminals! OK?! Because they don't want to know! THAT'S the reality!
Finally, I AGREE with you when you say those in government who assisted him really should be busted! ABSOLUTELY! No question about it!
- This is his reward for deciding to cooperate with investigators.
- That is one man I would like to interview. Nobody knows the real story behind what happened with 'his enterprise'. I believe just like the European agent who argued 'I was just following orders'; I have to wonder if he was not working for other special interests?
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- How does this sound folks I sorry for being a dirt bag thief and swindler. He apologizes what is that, he wasn't thinking about anything else other that how much money he was bilking the people lost everything. I'll bet he is crying little icicle alligator tears for for the one's who lost everything.
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- [At his sentencing, Madoff apologized to thousands of victims, describing his epic fraud as a "problem," "an error of judgment" and "a tragic mistake." ]
was this intended to elicit forgiveness from his victims? it was not a mistake, or an error of judgement ... it's all part of his mo ... he's a raging sociopath and doesn't even know it. - Reply to this comment
- Hit wrong link-why is this news? hes in prison-who cares???
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- This low life should be forced to work in a hard labor camp. Once again the justice system skewed in favor of white collar criminals.
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- 1. Can they deregulate his sentence?
2. Will his wife wait for him?
3. Is it possible for him to work for the SEC again?
(he did a wonderful job with them before all this) - Reply to this comment
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- Work for the SEC???
Madoff is the Joe Kennedy of our day.
In Joe Kennedy's day, FDR made Kennedy the HEAD of the SEC.
That's how Democrats are.
- by darthcheney345 July 13, 2009 5:28 PM EDT
Work for the SEC???
Madoff is the Joe Kennedy of our day.
In Joe Kennedy's day, FDR made Kennedy the HEAD of the SEC.
That's how Democrats are.
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First,rushlimpdrug asked, can they deregulate his sentence! Not, work for the SEC?!! Darth, you have a terrible "focus" problem!! You see things that aren't there! I've noticed that many neocon, fascist Nazis likewise have this SAME problem! I suppose it makes them what they are!
Second, Madoff is NOT the Joe Kennedy of OUR day! Kennedy used his booze and Hollywood exploits to amass money to USE for political purposes to get himself an ambassadorship and later to promote his sons' political
careers! Madoff had NO such interest! His interest WAS making money!
Third, it's true FDR appointed Joe Kennedy head of the SEC. So, you got SOMETHING correct, anyway!
Fourth, politicians appoint wealthy contributors to offices! Bush and Cheney certainly DID! So, it's NOT ONLY a case of,'that's how Democrats are'! So, save us YOUR sanctimonious attitude, we're not interested in it!
- Work for the SEC???
- Stop by and get Bush and Cheney on the way.
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- Throw in Phil Gramm and Bill Clinton, too.
Lock them all in one solitary confinement with Barney Frank for 20 years.
That would be a START on justice.
- WHO ARE THE MADOFF TEN?
When will we hear the names of the 10 suspected co-conspirators with Madoff?
Madoff is small potatoes compared to the BIG RATS in our government who gave him a free pass all through Clinton and Bush's administrations.
- I think there will be alot of people coming out of this prison in the near future with a new education on how to rip people off.
- by darthcheney345 July 13, 2009 5:23 PM EDT
Throw in Phil Gramm and Bill Clinton, too.
Lock them all in one solitary confinement with Barney Frank for 20 years.
That would be a START on justice.
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First, neocon fascists dogged Clinton everyday for EIGHT years and ALL these losers could come up with is that he lied about getting a 'BJ' from Lewinsky! As if, nosing into the guys' private sex life was their business!
Second, if the Feds are going after anyone, they'll do it when they have a case AND if they want to get the guy!
We all know it would give YOU great emotional satisfaction to lock up EVERY person out there who YOU designate as a LIBERAL, but fortunately we don't live in your el bizzaro, neocon fascist UNIVERSE!
Regarding a START on justice, a "meaningful" start would be the prosecution of Bush and Cheney, NOT locking up people who they can't prove broke the law! But, I wouldn't expect YOU to understand this!
- Throw in Phil Gramm and Bill Clinton, too.
How gold pays for 
