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Stanford & Madoff in Prison Together
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.
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]

