With fraudulent investor Bernard Madoff sentenced to 150 years in prison, the feds are now going after his associates. The Associated Press reports, "A person familiar with the investigation into disgraced financier Bernard Madoff says at least 10 more people are likely to be charged by the time the probe is complete." The associates will apparently face charges over the next few months; "The person familiar with the probe wouldn't detail the likely charges against the others or say whether they would include Madoff's relatives or former employees."
Madoff must now await word from the Federal Bureau of Prisons about where he will serve out his sentence for the rest of his life. And it won't be a country club set-up: According to the Post, his "150-year sentence excludes him from the cushy minimum-security 'work-camp' facilities where white-collar criminals often land. Instead, Madoff, 71, will serve out his sentence, at least for the first couple of years, in a locked cell behind razor-wire-topped walls because only offenders with sentences of 10 years or less are eligible for work camps." The upside: A law enforcement official says that anywhere else will allow him more freedom than what he currently has at the Metropolitan Correctional Center. The downside: His future fellow inmates may want to "make a name for themselves" by causing him harm. Which means the Ponzi schemer will probably be in solitary confinement, a prison consultant tells Bloomberg News, "If [inmates] see an opportunity to take that man out and be in the paper and make a name for themselves, what do they have to lose?"
While Madoff apologized for his $65 billion scheme (which his lawyers claim is only $13 billion, because you can't count his fake returns!), his victims outside the courtroom still had plenty to say and were possibly disappointed that Madoff wasn't led outside for more public derision. One told reporters (the media seemed to outnumber the victims), "I told the judge that when Bernard Madoff leaves prison, which means after his death, that he will then go down to the depths of hell where he’ll join those other people who are in the mouths of Satan."