Meet Bernie Madoff's New Pals

Owen Thomas · 03/12/09 04:25PM

After pleading guilty to his $50 billion fraud, Ponzi schemer Bernie Madoff is headed for jail. Which jail? Probably the federal prison in Otisville, N.Y., where he'll have the chance to meet new friends!

Update: Bernie's Going Straight to Jail

Owen Thomas · 03/12/09 10:52AM

Applause broke out in a New York courtroom — and across the nation — as U.S. District Judge Denny Chin ordered Bernie Madoff, who has confessed to a $50 billion Ponzi scheme, to jail. Immediately.