Madoff moved to medical facility at the prison

Madoff, 71, was ordered to serve a prison term of 150 years, after he pleaded guilty to a fraud of $65 billion.

On Dec. 18 he was moved to a medical center within the federal prison, revealed Catherine Elsea, a spokeswoman for the medical center. However, citing privacy rules, Elsea refused to reveal the reason why Madoff was being transferred.

“The potential reasons for an inmate to transfer are numerous, and we do not release those specific reasons,” said Elsea, as quoted by ABC News.

Bogus cancer reports
Madoff’s cancer diagnosis had created quite a buzz earlier this year. Reportedly, he went around telling the other prison inmates that he will be gone soon but the reports of his terminal illness were rebuffed by the Bureau of Prisons.

According to a report in the New York Times, Madoff suffered dizziness and high blood pressure and was kept under observation.

Madoff’s lawyer Ira Sorkin refused to comment.

Madoff’s massive Ponzi scheme
Madoff had been running a fraudulent investment operation for almost 20 years, before he was caught. During the time span, he upturned billions of dollars. On Dec. 11, 2008 the swindle got arrested and one day later, he confessed to his sons that their father had been doing nothing but running a massive fraud scheme.

He pleaded guilty to as many as 11 counts and was sentenced the highest on each count on Jun 29.

Madoff was ordered to serve 20 years of jail time for two counts of international money laundering, and the same period for single counts of other felonies including mail fraud, securities fraud and wire fraud. He was also sentenced for making a false statement to the U.S. Securities and Exchange Commission.

Madoff, who had the world shocked by his huge scam, was ordered to serve all the sentences successively.

He received the maximum time of 150 years that can be set for a prisoner and was ordered to surrender his $170 billion worth of assets.