BUSINESS BRIEFING / FRAUD
Bernard Madoff’s life of luxury is a thing of the past.
The disgraced financier, blamed for what is believed to be the largest Ponzi scheme in history, arrived at a federal prison in North Carolina to begin a 150-year sentence in a cell with two bunk beds, a toilet and a sink.
Madoff -- also known now as prisoner No. 61727-054 -- arrived somewhat under cover at the Butner Federal Correctional Complex about 45 miles northwest of Raleigh.
A prison official said he would be treated like any other inmate. If so, Madoff can plan to work seven-hour days on jobs like painting, plumbing and groundskeeping.
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