Has Bernard Madoff (Bernard Madoff news) made off with $9 billion no one knew about? Reportedly, the convicted Ponzi Scheme master told a fellow inmate at the federal prison in Butner, North Carolina, where he is serving his 150 year sentence, that he has channeled the money to three individuals--the identities of whom are unknown--right before he confessed to his crimes in December 2008.

The reports are based on conversations with former inmates and are worth checking out. If true, the money represents a substantial sum that could be used to pay back victims. You can bet Irving Picard is taking the secret $9 billion report seriously, however, even if it ultimately amounts to nothing.

The source of the news article told the New York Post that the only person who knows all three recipients is former right-hand man Frank DiPascali, who has pleaded guilty to 10 counts of fraud and is now said to be working with prosecutors. There have been a string of reports about Madoff behind bars. Some of them proved to be of dubious accuracy. For example, it would appear that reports of a severe prison beat down were either false or exaggerated. His lawyers deny he was ever beaten.

For more:
- here's the article

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