Friday, 25 July 2014
Last updated 1 hour ago
Mar 18 2010 | 7:47am ET
Despite a raft of denials from all parties, it seems that Bernard Madoff’s December hospital stay really was due to a prison beating.
The $65 billion Ponzi scheme mastermind spent 11 days in the medical unit of the North Carolina prison he calls home at the end of last year. At the time, both his attorney and prison officials denied that the hospitalization was the result of an altercation with another inmate.
But The Wall Street Journal reports that it was, in fact, a fight that sent Madoff to the infirmary. The fraudster reportedly suffered a broken nose, fractured ribs and cuts to his head and face.
The Journal cited three sources familiar with the situation, including an inmate still at the Butner, N.C., prison, and another who was recently released. The Bureau of Prisons continues to deny that an assault took place, and said that Madoff denied being beaten.
The attacker was an inmate serving time for drug violations, the newspaper reports. One of its sources said the source of the dispute was—surprise, surprise!—money the attacker thought he was owed by Madoff.
Madoff is serving a 150-year sentence.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…