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Stanford & Madoff in Prison Together

February 16, 2011

Allen Stanford and Bernie Madoff, the 2 most famous Ponzi schemers since, well, Charles Ponzi, soon will be in prison 'together'.  A federal judge recently ordered Stanford - accused of operating a $7 billion Ponzi scheme - moved from the Federal Detention Center in downtown Houston, to the facility in Butner, NC.  Butner is Bernie Madoff's home for the next 149 years.  He's presently in transit.

Stanford_allen_beaten_200

Last month, doctors for the government and the defense testified that Stanford had become addicted to anti-depressants after being severely beaten by another inmate in September 2009.  The doctors testified Stanford would need to be weaned from the drugs - a process that could take months - before he could assist in his own defense. 

U.S. District Judge David Hittner indefinitely postponed Stanford's trial, which was to begin last month, and ordered him transferred to a facility within the federal prison system for drug treatment.  Butner has a well-regarded medical center within the federal prison complex.  Perhaps they'll do lunch!   [CNBC.com, 2/15]