Madoff escape plan foiled – Oversold tunnel shares

An escape plot by Bernard Madoff was foiled recently when the disgraced financier was turned in by a disgruntled accomplice, federal corrections officials report.

Madoff, serving 150 years for a Ponzi scheme that defrauded his investment clients of an estimated $65 billion, has been placed in solitary confinement and deprived of access to his Ameritrade account.

In a statement released by Butner Federal Prison Director Ward N. Frandle, Madoff had circulated an ‘escape prospectus’ among the prison population, proposing a 1,500 foot escape tunnel under the prison’s walls. The work would be done by 1,500 ‘shareholders’ — fellow prisoners digging one foot each, reports Frandle.

Each ‘tunnel investor’ was told by Madoff to come to his cell at a scheduled time, according to the report. “Prisoner Madoff told each investor he was the first to dig. After a investor finished with his 12 inch segment, Madoff would fill it back in and await the next victim.”

“Madoff essentially oversold the escape tunnel 1,500 times,” Frandle said.

The plan came to light just after midnight Monday morning, when all 1,500 investors rendezvoused at Madoff’s cell with their luggage.

One thought on “Madoff escape plan foiled – Oversold tunnel shares”

  1. This story just goes to show that Madoff, who has always been a crook, will never change. Its hard to believe that he has been in jail less less than two months and he has already tried to escape by taking advantage of the prison inmate population who worship him as their savior. I hope he lives out the length of his entire sentence so that when he does get released, the FBI can follow him to where he hid his offshore money. At an untaxed rate of a conservative 8% a year, the money will probably be worth more than the entire economy of the United States by then. I will leave a “time capsule” with instructions for my descendents to dig up in 150 years in order to apply for their legitamate inheritance that my children and grandchildren were denied when I lost my entire life savings.

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