Convicted Ponzi-scheme operator Bernard Madoff arrived at a federal prison in North Carolina to begin serving his 150-year prison term.
Bernard Madoff (Photo: U.S. Department of Justice)
Greg Norton, a spokesman for the U.S. Bureau of Prisons, told the Wall Street Journal that Madoff arrived about 11:15 a.m. Eastern time on July 14 at Butner Federal Correctional Complex in Butner, N.C. Madoff, 71, was assigned to one of two medium-security prisons at the complex and is now prisoner number 61727-054.
The Butner complex, about 30 miles north of Raleigh, includes two medium-security prisons, a low-security prison, a medical facility and a satellite prison camp for minimum-security male inmates. It is also the home of Jonathan Pollard, a U.S. navy analyst convicted of spying for Israel.
Madoff was sentenced to 150 years in prison June 29 after admitting in March to running a decades-long Ponzi scheme that bilked thousands of investors out of billions of dollars, including the assets of several local individuals and foundations.
