Jun.22, 2010

Bernie Madoff may have stashed a large amount of money before he was arrested, it's been learned.

Sources say Madoff has told fellow inmates at the Butner Federal Correctional Institution that he funneled as much as $9 billion dollars to a handful of people before his Ponzi scheme was uncovered in late 2008. Madoff bilked as much as $20 billion dollars from individual investors and charitable organizations over the span of 20 years.

The source said, "I think it was personal friends."

Bernie told the source that his former associate, Frank DiPascali, knows who the recipients of the ill gotten cash are and is using this information to cut a deal with the feds.

Bernie Madoff was sentenced to 150 years in prison and had to forfeit over $170 billion dollars for multiple charges including Securities fraud, mail and wire fraud, money laundering, investment advisor fraud, making false statements and false filings with the SEC and theft from an employee benefit plan.

Madoff is scheduled for release from prison in November 2139.