Who2 Editorial Blog

Notes and Commentary from the Editors

Tuesday, July 14, 2009

Madoff Gets 20 Years Off for Good Behavior

Did we say he'd be out in 2159? Make that 2139:

Confessed swindler Bernard Madoff was in a medium security prison in Atlanta after being moved from his New York jail cell, U.S. official prisons bureau records showed on Tuesday...

The web site, www.bop.gov, which provides locations of inmates, listed his full name Bernard Lawrence Madoff, his prison number 61727-054, age 71, race, gender, projected release date of November 14, 2139 and location of the Atlanta prison.

The release date, which is academic in Madoff's case, automatically reflects a 20 year reduction for good behavior.

Labels: Bernard Madoff

Posted by Mr. Holznagel at 7:09 AM Share on Facebook 0 comments

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