Bernie Madoff Moved to a Prison Medical Center

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Bernie Madoff, the convicted Ponzi patriarch now serving a 150-year federal prison sentence, has been moved to a low-security medical facility, according to the Bureau of Prisons. Madoff, who was found guilty of authoring a $65 billion fraud of epic proportions, was moved to the medical facility at the federal prison in Butner, N.C. last Friday.

The reason for Madoff's transfer is unknown -- the medical facility handles routine checkups, as well as more serious medical matters. (Update: The New York Times reports that Madoff is being treated for dizzyness and high blood pressure.) In November, Madoff was beaten up by a fellow prisoner. Earlier this year, the Bureau of Prisons denied a report that Madoff had cancer, and reiterated that point again on Wednesday.%%DynaPub-Enhancement class="enhancement contentType-HTML Content fragmentId-1 payloadId-61603 alignment-right size-small"%%As recently as several days ago, Madoff, who has been at the Butner prison since July, was not complaining of ill health, according to a person quoted in the Wall Street Journal.

A spokesperson for the Bureau of Prisons declined to elaborate on the reasons why Madoff was moved into the hospital. "The potential reasons for an inmate's transfer are numerous and we don't release those specific reasons," the spokesperson, Traci Billingsley, said in a statement.

Madoff was convicted of masterminding a decades-long Ponzi scheme that robbed investors who trusted him of some $65 billion. Among those swindled by Madoff are charities, schools, and religious institutions -- as well as thousands of other investors. Irving Picard, the court appointed trustee charged with cleaning up Madoff's mess the best he can, has sued members of Madoff's family for $200 million, claiming they benefited from Madoff's crimes and used his company as a "family piggy bank."

Another Ponzi Schemer, Allen Stanford, Is Also Having Issues

Separately, Allen Stanford, the onetime financial big-shot currently in federal custody after being indicted for a massive fraud, is also facing medical issues. A psychiatrist who has examined Stanford said he is in danger of "a complete nervous breakdown" if he is not released on bail, according to court documents cited by the Houston Chronicle this week.

Stanford's lawyers and family have asked for his release pending trial. In one letter, one of Stanford's sons wrote: "I can guarantee you that my dad will go nowhere if released on bail. He knows that running would get him nowhere, it would only make things worse."

Stanford has been in federal custody since June 18, after being indicted by a Houston grand jury for a "massive ongoing fraud" involving $8 billion in phony certificates of deposits he is alleged to have issued from a bank he controlled in Antigua, in the Caribbean.
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