Career criminal reportedly admitted to prison hospice
February 5, 2020
New York, CNN Business – Bernard Madoff says he is dying and is asking a judge for compassionate release from prison, where he is serving 150 years for orchestrating the largest Ponzi scheme in history, according to a Wednesday federal court filing.
Madoff, 81, has terminal kidney failure and a life expectancy of less than 18 months, according to the filing.
He was arrested in December 2008 on allegations that the prestigious asset management firm he ran in Manhattan was in fact a pyramid-type scheme that swindled billions of dollars from thousands of people.
He pleaded guilty to 11 felony charges related to money laundering, perjury and falsifying financial documents. He began his prison term in July 2009.
Madoff has been serving his sentence at a federal prison in Butner, North Carolina.
When the court sentenced him, “it was clear that Madoff’s 150-year prison sentence was symbolic for three reasons: retribution, deterrence, and for the victims,” the court filing states.
“This Court must now consider whether keeping Madoff incarcerated … is truly in furtherance of statutory sentencing goals and our society’s value and understanding of compassion.”
Madoff said in the request for compassionate release that he “does not dispute the severity of his crimes.”
In September, Madoff submitted a request to the Bureau of Prisons for compassionate release, according to a letter from his attorney, Brandon Sample, to a warden at the Butner Federal Correction Complex.
The letter states that Madoff had been living in the prison’s hospice facility.
The request was denied on December 5. In a letter detailing the denial, the warden did not dispute Madoff’s condition or his life expectancy, but noted that Madoff has refused dialysis.
“Mr. Madoff was accountable for a loss to investors of over $13 billion,” the warden’s letter states … Read more.