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: New York Supreme Court Criminal Term Library

Madoff Prison Prospects:' Everyone Blames Bernie'

By David Badertscher, PLL

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Source: Crime and Justice News,

"Bernard Madoff may have to fight off prison inmates who want to squeeze him for money or blame him for the Wall Street crash, reports Bloomberg.com. "Madoff isn't going to be real popular," said Larry Levine, who served 10 years in federal prisons for securities fraud and narcotics trafficking and now advises convicts on surviving time behind bars. 'All the guys there will have wives or parents who are losing their homes or their jobs or who can't send money to them anymore. Everybody's going to be blaming Bernie.' "

"The 70-year-old investment adviser is accused of running a $65 billion fraud that fleeced thousands of investors. Madoff will likely join a corps of aging white-collar convicts including former WorldCom Inc. Chief Executive Officer Bernard Ebbers, 67, now housed at the Federal Correctional Institution in Oakdale, La., and John Rigas, 84, the ex-CEO of Adelphia Communications Corp., who is imprisoned at the Federal Correctional Institution in Butner, N.C".

Bloomberg.com

Full post as published by New York Supreme Court Criminal Term Library on March 13, 2009 (boomark / email).