Madoff on Move to Federal Prison in N.C.

(CBS/AP)  Convicted swindler Bernard Madoff was taken from a correctional facility in downtown Manhattan Monday and is headed to his eventual destination - a federal medium security prison in Butner, North Carolina about 25 miles outside Raleigh - a federal law enforcement official confirmed to CBS News. As of July 9, the complex holds 4874 inmates.

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."

[fuzzyi]

FIRING SQUAD....

[SpectralSpectator]

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...

[ssachung]

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.

[bluecollarjoe]

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!

[hamiltongrad]

What is wrong with you ? Do you want to see the man tortured everyday at GITMO ? Why have him in jail at all, when all of our society is so greed oriented that we even have "business schools" to teach our best and brightest how to make even more money from other people's work.

[darthcheney345]

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.

[stn_sage]

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!

[darthcheney345]

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????

[stn_sage]

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!

[Henri_Rochard]

Madoff's next move will be to a country-club prison somewhere.

[TheMasses0009]

I hope his family goes down in flames too.
The ones that knew ..... you know they knew he knew that they knew too .....................

[whitemale08]

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.

[hamiltongrad]

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.

[pete_in_az]

That would require forgiveness, something these necon christian twits wouldn't understand even if it is one of the pillars of their faith.