Who2 Editorial Blog

Notes and Commentary from the Editors

Monday, June 29, 2009

Bernie Madoff's Prison Earning Power

Master fraudster Bernard Madoff was sentenced to 150 years in jail from a New York judge today.

Madoff will be 221 years old when he gets out in 2159.

Assuming that Madoff managed to hide $10 million or so from federal agents in Swiss or offshore accounts: At a modest interest rate of 4%, compounded annually, he can expect to have over three billion dollars -- $3,589,226,741, to be exact -- waiting for him when he gets out.

At standard New York prison wages of between two and 20 cents per hour, Madoff can sock away an extra $40 to $400 per year, or up to $60,000, during his sentence.

That's assuming he works the typical 40 hours per week.

Labels: Bernard Madoff

Posted by Mr. Holznagel at 11:42 AM Share on Facebook

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