Bernie Madoff Beaten Senselessly in Prison

some good news: corrupt Wall Street investor Bernie Madoff was reportedly beaten senselessly in prison where he is serving a 150 year sentence.

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Before I get to the delightful details, a little background. Madoff was a Wall Street investor with irreproachable credentials. He was president of the Nasqad, advised the government of financial matters and ran a private firm which constantly posted 10% returns for his clients. Those 10% returns - even during bad times - may have raised suspicion of foul play because they are too good to be true were the man behind them anyway but Madoff. But Bernie, as he is known, was believed to have some great investment strategy and to inquiry and raise questions would be an affront akin to asking Coco-Cola to reveal its secret recipe. Bernie also created for his clients an exclusivity that catered to their egos and made them reluctant to raise any questions. He often turned down prospective clients, for instance, so those part of the team, so to speak, felt special and that it was best to just trust Bernie with their life savings instead of asking questions, especially as the returns were impressive quarter after quarter. Furthermore, Bernie once ejected a client after he asked too many questions so other clients took the hint that they best not displease him.

In the end, that lack of skepticism was their own undoing. Madoff ran the world's biggest Ponzi scheme ever. Its details still greatly unknown. Over $30billion in hard cash was lost and some $20billion in perceived gains - returns on investment people thought they had - were also gone. The financial crises was Bernie's undoing as he no longer could rely on new clients - new money - to top off the 'returns' of existing ones and it was he - not the federal regulators - who turned himself in and admitted violation of fiduciary laws.

And now the beating:

Bernard Madoff, who is serving a 150-year sentence in North Carolina for running a fraud scheme that cost investors billions of dollars, was physically assaulted by another inmate in December, according to three people familiar with the matter.

After the attack, Mr. Madoff, who pleaded guilty a year ago and was sent to a federal prison in Butner, N.C., was moved on Dec. 18 to the prison's low-security medical center for treatment. At the time, the Bureau of Prisons said that rumors of an assault were false and that Mr. Madoff suffered from dizziness and hypertension.

One of his lawyers, Ira Sorkin, added at the time that Mr. Madoff was experiencing high blood pressure and heart palpitations. Mr. Sorkin declined to comment Wednesday on whether his client was beaten, saying, "I don't comment on prison conditions or his family. That has been my policy."

Mr. Madoff was treated for a broken nose, fractured ribs and cuts to his head and face, according to a felon currently at Butner serving time on drug charges who was familiar with his condition at the time. The details of the injuries couldn't be independently verified.

Another inmate who recently was released from Butner after serving time for drug charges and a third person who isn't an inmate and is familiar with Mr. Madoff's situation both confirmed the assault.

The former inmate said the dispute centered on money the assailant thought he was owed by Mr. Madoff.

This man deserves that and more. And how ironic: getting beat for owing someone money. Apparently, this guy does not learn. He is clearly deranged on the question of money. Even in prison he still seeks to steal other peoples money for his own insane reasons. But in prison - unlike in Manhattan - justice is handled in a different manner. Maybe a nice beating will teach him a lesson. Don't count on it.

I really like Robin William's joke mocking that fact of why was it so hard for people to believe that some one named Madoff - as in 'Made Off' - was untrustworthy with money. Did he have to run his firm as 'MayWeFuckYou & How?' before anyone took a hint?