So today reports are surfacing that Bernard Madoff, the perpetrator of the largest Ponzi scheme in history, is dying of cancer in a North Carolina Federal Prison.

The 71-year-old is reportedly taking 20 pills a day to treat his cancer and has told other inmates that he does not have long to live.

“Lawyers for Madoff have not yet responded to the reports, although they earlier declined to respond to questions on the matter when speculation arose earlier this year that he was suffering from pancreatic cancer. His wife, Ruth, has also declined to answer questions regarding the matter.”

“Madoff is currently serving a 150-year sentence in Butner, N.C., for swindling $65 billion from thousands of investors. He pleaded guilty to 11 felony charges in March and was sentenced in June.”

It is not been stated what from of cancer Madoff is suffering from, but there have been reports that he has been attending “Native American religious purification ceremonies” that use heat rocks and ceremonial pipes.

“Madoff is also being recruited by various prison “gangs,” and some prisoners have been cooking him sandwiches in their cells.”

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In what is hopefully going to be the last post regarding this case, the disgraced financier Bernard Madoff arrived at federal prison today in Butner, North Carolina, where he will serve what is humanly possible of his 150 year sentence.

“Federal Bureau of Prisons spokeswoman Linda Thomas says Madoff arrived at the Butner facility Tuesday morning, after a brief stay at an Atlanta prison while in transit from a federal jail in New York City.”

“Madoff has a projected release date of November 14, 2139, assuming he gets early release credit for good behavior while in prison.”

He is now listed in the Bureau of Prisons records as prisoner number 61727-054.

Tough way to go out, especially when you already had everything you could ever dream of.

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The disgraced financier Bernard Madoff will not be appealing the 150 year sentence that was handed down to him last week.

“We won’t be appealing the sentence,” Madoff’s lawyer, Ira Sorkin, said Thursday. He declined to say why the decision was made. Rebekah Carmichael, a prosecutor’s spokeswoman, declined to comment.”

The 71 year old was sentenced last week for his Ponzi-Scheme that spanned over two decades. The scheme came to an end last December when he confessed to his sons that the $65 Billion dollars in investments that he had promised investors was really only worth a few hundred million.

“Despite the efforts to liquidate his estate, it was expected that investors will receive only a small portion of the more than $13 billion they originally invested.”

Be careful with your investments people. Make sure you don’t wind up in the hands of fraudsters like this guy.

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Another update in the Bernard Madoff fiasco:

After liquidating Bernard L. Madoff Investment Securities, the court appointed trustee determined that $231 Million in SIPC (Securities Investor Protection Corp.) funds will be reserved and ready to satisfy 543 claims that total over $2.97 billion dollars.

“The figure, which exceeds the total amount paid in the last 11 largest liquidations under the Securities Investor Protection Act, reflects “major progress” since May 14, when $61.4 million in SIPC funds had been committed to 125 Madoff claimants, SIPC said in a statement.

The announcement by Trustee Irving H. Picard and SIPC, which maintains a reserve fund to help investors at failed brokerage firms, comes two days after Southern District of New York Judge Denny Chin imposed a 150-year sentence on Madoff, 71, for his “extraordinarily evil” crimes.

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The U.S. Marshall Service  seized the disgraced former financier’s $7 Million Manhattan penthouse today.

Looks like Mrs. Madoff is going to have to find a new spot to call home.

“U.S. Marshal Joseph Guccione said the marshals arrived at the property at noon with a court order permitting them to take custody of the apartment and cause anyone there to move out.”

“Guccione said Madoff’s wife Ruth had been advised in advance of the marshals’ plans and was leaving the residence, surrendering all personal property.”

“She will be leaving,” he said. “Restitution for the victims is the government’s top priority.”

On Monday, the 71 year old Madoff was sentenced to 150 years in prison. He plead guilty in March to a multibillion-dollar Ponzi scheme that wiped out investors and charities.

Last week, Ruth Madoff agreed to give up all of her possessions in return for a promise that federal prosecutors would not go after $2.5 million she can keep. The money, though, is not protected from civil legal actions that might be pursued by a court-appointed trustee liquidating Madoff’s assets or by investor lawsuits.

I wonder if anybody is going to take her to court for the rest of that $2.5 million.

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The massive Ponzi scheme run by Bernard Madoff earned him 150 years in prison. The decision, handed down this morning by U.S. District Judge Denny Chin, was the maximum punishment allowed.

“Here the message must be sent that Mr. Madoff’s crimes were extraordinarily evil and that this kind of manipulation of the system is not just a bloodless crime that takes place on paper, but one instead that takes a staggering toll,” said Chin.

The massive Ponzi scheme Madoff was running had been in effect since the early 1990’s. He unmercifully stole the life savings of thousands of people, and even charities, in a display of greed so grandiose, that he earned himself the maximum punishment possible…“A term comparable only to those given in the past to terrorists, traitors and the most violent criminals.”

“The sentence reflected a growing tendency over the last decade to give white-collar criminals lengthy prison terms. But nothing before has come close to the time given Madoff — an outcome that prompted scattered applause and whoops from a group of burned former clients in a packed Manhattan courtroom.”

“The judge noted that not one of the more than 100 letters he received supported Madoff or described any good deeds he had done.”

“The absence of such support is telling,” Chin said.

Madoff reportedly  showed no emotion as he listened to his victims speak of their anger and despair for nearly an hour. Some openly wept, and some became angered.

“He stole from the rich. He stole from the poor. He stole from the in between. He had no values,” said Tom Fitzmaurice. “He cheated his victims out of their money so he and his wife Ruth could live a life of luxury beyond belief.”

After he was asked by a judge if he had anything to say, Madoff rose slowly and spoke in a monotone manner for close to 10 minutes.

“I will turn and face you,” he said mechanically. “I’m sorry. I know that doesn’t help you.”

Sorry isn’t going to do it Mr. Madoff. In one of our countries most tumultuous financial times, you have contributed to the bad side, which leaves everyday Americans scared to invest money at a time when it is exactly what we need.

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Disgraced financier Bernard Madoff is looking at 12 years in prison…  best case scenario.

His lawyer is pushing for this sentence claiming that it would be sufficient punishment for the man who committed one of history’s biggest scams.

A woman who says that is not enough for the man who ruined her and her family’s life.

“The 71-year-old Madoff faces up to 150 years in prison after pleading guilty on March 12 to 11 felony counts including securities fraud and perjury. He admitted operating a massive pyramid scheme for decades. Federal sentencing guidelines call for Madoff to receive a life sentence.”

“We seek neither mercy nor sympathy,” his lawyer wrote. But he urged the Judge to “set aside the emotion and hysteria attendant to this case” as he determines the sentence.”

The lawyer also stated that a sentence of 15 to 20 years would not be dis-proportionate comapared to sentences handed out to other white-collar criminals.

Many of Madoff’s victims lost several millions of dollars, and are even being forced to sell their homes due to financial problems.

Candace Newlove of Nederland, Colorado said her family was financially ruined by Madoff.

“Newlove, who is selling her home, said she hopes the judge keeps in mind that Madoff “had a huge impact not only on our family but world economics and trust around the world.”

Many of the victims are writing letters to the Judge regarding Madoff and how he has affected their lives.

“The lawyer can ask for anything he wants. That doesn’t mean anything. I’m sure he’s going to spend the rest of his life in jail,” another victim of the scheme said.

It’s not lookin good for old Bernie.

On a side note though, Madoff has met with the inspector general of the Securities and Exchange Commission, and provided information and insight into his conduct and the role of the SEC, and how they can help regulate activity like this in the future.

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The legendary actress is supposedly facing financial ruin after “investing” with the fraudster Bernard Madoff. She was one of many stars affected by the scandal. Madoff allegedly siphoned billions of dollars from her and other big Hollywood names.

“Gabor, 91, and her ninth husband, Prince Frederic von Anhalt, have revealed Madoff’s scam has also cost them millions.”

“Von Anhalt tells the National Enquirer, “We’re mad… We want our money back. We might be forced to sell our Bel Air home, cars, artwork and even our jewelery because of this sick man.”

I feel bad for them, but at the same time, I’m sure there are people who are a lot less wealthy that invested their hard earned money trying to make a buck or two. I can only imagine the stuff that they are going through. It would be hard to sell your vacation house, and your priceless artwork, and your extra cars but imagine if you had to sell your only house and car…

“I feel really bad, because Zsa Zsa shouldn’t have to worry about the financial mess I’ve gotten us into. We are taking legal action to recoup some of the money. I’m going to have to make back that money somehow, or we’re going to face financial ruin.”

Kevin Bacon, Steven Spielberg, and other notable celebrities were among those affected by the fraudster as well.

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