Bernie Madoff earned $710 in jail after Ponzi fraud conviction

Bernie Madoff is leaving federal court in New York on March 10, 2009.

Jin Lee | Bloomberg via Getty Images

Some people might argue that Bernie Madoff was massively overpaid even at just 24 cents an hour to work as a jailer.

Madoff, the late king of the Ponzi scheme who ripped off thousands of people for billions of dollars, earned just $ 710 after working nearly 3,000 hours while serving 12 years in a North Carolina federal prison before he dies of kidney failure in April, show newly released records.

And when he died at the age of 82, Madoff didn’t leave much of his personal belongings: eight AAA batteries, four religious paperback books, a Casio calculator, four packets of popcorn, a packet of ramen soup, a box of filtered fish, and not much more.

Bureau of Prinance records, reported first from the online publication The City, also show that while Madoff received generally positive reviews for his performance as a nurse, at some point a supervisor remarked that he “needs closer supervision than most” and was “not very reliable”.

This was certainly the case when Madoff ran Bernard L. Madoff Investment Securities in New York, where for decades he led a luxurious lifestyle and satisfied clients with constant investment returns on their portfolios.

These returns turned out to be a deception.

In 2008, federal prosecutors accused Madoff of running the largest Ponzi scheme in history, using money from some investors to distribute alleged profits to others.

Madoff’s sons, Mark and Andrew, had told authorities that he had confessed to them that his business was an outright fraud.

Madoff pleaded guilty to 11 crimes in Manhattan federal court in 2009 and was sentenced to 150 years in prison.

Mark Madoff killed himself in 2010 at the age of 46, two years from the day this father was arrested. Andrew Madoff died of lymphoma four years later at the age of 48.

While in custody in Butner, North Carolina, Madoff served as the first vigilante in a section of the detention center dedicated to educational programs. He later asked to be transferred to work in the chapel area, The City noted in its report.

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Last year, Madoff’s attorney revealed in court files that the sociopathic impostor was terminally ill with kidney disease. when he asked a judge to grant Madoff an early release out of compassion.

Manhattan Federal Judge Denny Chin Chi shot this request in June 2020, stated that Madoff had committed “one of the most egregious financial times of all time” and that “many people still suffer from it”.

About 500 victims wrote to oppose Madoff’s release.

One of Madoff’s victims had written to Chin, “I wholeheartedly believe that my husband would be alive today if he did not deal with the stress and emotional distress that the loss of almost all of our money has meant to our family. “

In December, the Justice Department announced that the Madoff Victim Fund was total $ 3.2 billion for nearly 37,000 people scammed by Madoff. This dollar amount represents more than 80% of the total casualty losses.

The fund’s money comes from recovering assets associated with Madoff. The fund predicts that it will ultimately return more than $ 4 billion in total assets.

Leisure heart to honor 12 who’ve ‘earned the appropriate to have some enjoyable’ » Albuquerque Journal

Main Event Entertainment is holding a competition to honor people who have done everything for their community. Roberto E. Rosales / Albuquerque Journal)

Main Event Entertainment wants to recognize people who have helped the community during the pandemic.

The Albuquerque entertainment complex is temporarily closed, but the company recognizes Above and Beyonders. The public can identify families and individuals who have improved the life of the community over the past year. Nominations for the campaign “Every reason to celebrate: Above and Beyond” can be made under mainevent.com/everyreasontocelebrate. The competition runs until May 16, according to a press release from the main event.

“At the Main Event, we believe we are more than just the best place for families to celebrate,” said Chris Morris, CEO of Main Event Entertainment, in the press release. “We are the place where the family is celebrated.”

Twelve winners from the Main Event markets will be selected to win a year of free fun in the entertainment center. Winners will enjoy free activities, games, and food at the main event. The winners will be announced in mid-June.

The Main Event Entertainment also offers a full menu of food and drinks. (Roberto E. Rosales / Albuquerque Journal)

“Doing good things for each other and sharing moments makes a family family,” said Sarah Beddoe, chief brand officer of Main Event Entertainment, in the press release. “As a brand rooted in creating moments to connect, we have an obligation to celebrate the families that have kept us all going over the last year, and we can’t wait to do it through this incredible program to do.”

Criteria for nominations include local service and friendliness that have had an impact – for example, a father who works as a first responder and has no days off, or a creative mother with a brilliant idea or a student who starts a neighborhood clothing campaign has to donate to a local charity, according to the press release.

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“We know that there are so many inspiring people in all of our communities who have either worked countless days on the front lines protecting their communities during the pandemic, started a small business that gave back to the most vulnerable, or even made it has to maintain the family unit together through home schooling and multiple jobs, “says Morris in the press release. “These Above and Beyonders definitely deserve their right to have fun, and we’re excited to offer them this opportunity.”

Main Event Entertainment offers state-of-the-art bowling. (Roberto E. Rosales / Albuquerque Journal)

The main event features state-of-the-art bowling, billiards, arcade games, shuffleboard, gravity ropes, virtual reality, a full-service menu and drinks menu, and much more.

The Dallas-based entertainment company was founded in 1998. It operates 44 centers in 16 states and serves more than 20 million guests annually, according to a press release.

Main Event is the main sponsor of Special Olympics International. It supports the cause through fundraising and serves as a venue for Special Olympics events across the country. It is also a proud partner of the Dallas Cowboys. For more information on entertainment, see mainevent.com

Longview seniors have fun scholarship cash earned

Many students applied for dozens of scholarships, some more than 50.

LONGVIEW, Texas – Students, teachers, and families gathered at Lobo Coliseum for a ceremony to honor students for the scholarship money they earned. Longview Scholarship Coordinator Kay Ray says these students have earned more than $ 7 million in scholarships.

“Many of these grants will be only $ 250 and $ 4,000 or $ 10,000 today,” said Ray.

Kate Pimentel and Cooper Mayes are two of dozen of students who are awarded scholarships. But it wasn’t easy. Both applied to many different.

“Probably more than 50,” Mayes said.

“I applied to over 20,” said Pimentel.

“When students fill out up to 40 and 50 applications from October through April, a lot of students say it’s almost like taking another class at school,” said Ray.

It may be a lot of work, but both Pimentel and Mayes say the extra work is worth it. You also want people to understand the commitment and time it takes to apply for the various scholarships.

“Each application can be anywhere from 40 minutes to an hour and a half,” said Pimentel. “Obviously, if I had to write an essay, it would take longer to plan, write, and proofread.”

“We put in a lot of work, like kids, who got all these scholarships. It wasn’t like they weren’t just giving money, you have to earn it,” Mayes said.

Not all of the money that went to students came from universities. According to Ray, more than $ 130,000 in scholarships came from local scholarships.

“We’re so grateful for the people who take the time to volunteer and raise money so these kids can give the best they can in life,” said Ray.