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Inmate: Madoff Has $9 Billion Hidden Away (Somewhere)
By
Jen Chung
Published Jun 21, 2010
Modified Jun 21, 2010
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By
Jen Chung
Published Jun 21, 2010
Modified Jun 21, 2010
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Finally, it takes a prisoner to claim what everyone suspected—that Bernard Madoff has billions stashed away somewhere unbeknownst to the feds (so far). The Post reports, "Ponzi king Bernard Madoff is telling fellow jailbirds that he secretly funneled $9 billion in swiped funds to three people before he was nabbed, an inmate told [the paper]. Madoff says that his partner in crime Frank DiPascali knows who the recipients are -- and that he suspects DiPascali is using that information to cut a better deal with the feds, according to the inmate at the medium-security prison in Butner, NC."
The inmate/sudden expert on Madoff money believes the money was shifted to "personal friends." DiPascali, who faces 125 years in jail if convicted on all charges and can allegedly "pull the curtain back" on the scam, has been cooperating with the authorities.
The inmate also spills details on Madoff's life while serving his 150 year sentence at Butner Correction in North Carolina. For instance, he's seeing a prison psychiatrist ever since his former mistress spilled the TMI details of their affair. Madoff's wife Ruth wasn't too happy hearing about the infidelity but still visits him; the inmate said, "She's bought a regular car"—what about the F train—"She's looking to do charity work. She wants to have her own privacy and to start a new life."
Madoff's sons remain estranged, though the Ponzi schemer "feels eventually -- eventually -- as time passes, he feels they're going to come around," according to the inmate. Other details: The inmate claims Madoff broke out into hives upon entering prison, he plays boccie with Colombo crime family boss Carmine Persico, and has to carry dozens of cans of soda to other inmates during commissary duty. The inmate adds, "Everybody knows Bernie Madoff. Everyone says, 'Hey, Bernie, how are you doing?' To a lot of inmates, he's a god... The higher the profile, the more they look up to you."
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Bernard Madoff
billions
Butner
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Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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