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Experts don't see a 'camp cupcake' for Madoff as they offer suggestions to keep out of danger.
By Aaron Smith, CNNMoney.com staff writer
Last Updated: June 24, 2009: 1:43 PM ET
Medium-security prisons are surrounded by two layers of razor wire fencing, with electronic surveillance.
NEW YORK (CNNMoney.com) -- When Ponzi scheme mastermind Bernard Madoff is sentenced on Monday, he'll be sent to a real prison with real bars and violent offenders, not a "country club" for white collar crooks, consultants say.
Madoff, age 71, faces a maximum sentence of 150 years in the federal prison system. This is based on his confession to 11 felony counts for orchestrating the largest Ponzi scheme of all time. For decades, Madoff stole billions of dollars from thousands of victims, while masquerading as a legitimate businessman through his investment firm.
The length of Madoff's maximum sentence, which is based on the sweeping magnitude of his crimes, gives him an incentive to escape and virtually ensures that he'll be sent to a prison instead of a minimum-security camp, according to prison consultants.
"Madoff, he's not going to a camp, ever," said Larry Levine, founder of Wall Street Prison Consultants and a former inmate of the federal prison system. "His sentence is too long, so he becomes a flight risk. And then it gets into the severity of his crime. If you have more than 10 years, you can't get a camp."
No camp for Madoff
Camps are generally preferred by convicts, because they're deemed as safer, with fewer restrictions, consultants said.
"Prison camps are open facilities," said Alan Ellis, an attorney, prison consultant and author of the "Federal Prison Guidebook." "They are not surrounded by a fence. They generally house first-time offenders, non-violent offenders, people who are not going to be troublemakers."
Larry Levine speaks from first-hand experience. During his 10-year sentence for ties to organized crime, he said he served in 11 federal facilities, including high, medium and low security prisons, and minimum-security prison camps.
He said his favorite facility was Federal Prison Camp Nellis, on an air force base near Las Vegas. That's where Martha Stewart's co-conspirator in insider trading, Peter Bacanovic, served five months. The facility has since closed.
Madoff will most likely serve time in a medium-security prison, consultants believe -- his non-violent history will keep him out of maximum-security, but his sentence is too long to justify low-security.
{for the rest of this story}
http://money.cnn.com/2009/06/24/news/economy/madoff_prison_survival_tips/index.htm
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Even as this is coming to fruition...Madoff's attorneys are seeking the maximum of 12 years for sentencing...LMAO
Ya, 12 years per each of the 11 felony cases that he plead guilty too!!!
By Aaron Smith, CNNMoney.com staff writer
Last Updated: June 24, 2009: 1:43 PM ET
Medium-security prisons are surrounded by two layers of razor wire fencing, with electronic surveillance.
NEW YORK (CNNMoney.com) -- When Ponzi scheme mastermind Bernard Madoff is sentenced on Monday, he'll be sent to a real prison with real bars and violent offenders, not a "country club" for white collar crooks, consultants say.
Madoff, age 71, faces a maximum sentence of 150 years in the federal prison system. This is based on his confession to 11 felony counts for orchestrating the largest Ponzi scheme of all time. For decades, Madoff stole billions of dollars from thousands of victims, while masquerading as a legitimate businessman through his investment firm.
The length of Madoff's maximum sentence, which is based on the sweeping magnitude of his crimes, gives him an incentive to escape and virtually ensures that he'll be sent to a prison instead of a minimum-security camp, according to prison consultants.
"Madoff, he's not going to a camp, ever," said Larry Levine, founder of Wall Street Prison Consultants and a former inmate of the federal prison system. "His sentence is too long, so he becomes a flight risk. And then it gets into the severity of his crime. If you have more than 10 years, you can't get a camp."
No camp for Madoff
Camps are generally preferred by convicts, because they're deemed as safer, with fewer restrictions, consultants said.
"Prison camps are open facilities," said Alan Ellis, an attorney, prison consultant and author of the "Federal Prison Guidebook." "They are not surrounded by a fence. They generally house first-time offenders, non-violent offenders, people who are not going to be troublemakers."
Larry Levine speaks from first-hand experience. During his 10-year sentence for ties to organized crime, he said he served in 11 federal facilities, including high, medium and low security prisons, and minimum-security prison camps.
He said his favorite facility was Federal Prison Camp Nellis, on an air force base near Las Vegas. That's where Martha Stewart's co-conspirator in insider trading, Peter Bacanovic, served five months. The facility has since closed.
Madoff will most likely serve time in a medium-security prison, consultants believe -- his non-violent history will keep him out of maximum-security, but his sentence is too long to justify low-security.
{for the rest of this story}
http://money.cnn.com/2009/06/24/news/economy/madoff_prison_survival_tips/index.htm
*****************************************
Even as this is coming to fruition...Madoff's attorneys are seeking the maximum of 12 years for sentencing...LMAO
Ya, 12 years per each of the 11 felony cases that he plead guilty too!!!
