WSJ: Madoff beaten up by fellow inmate in dispute over money

Financial swindler Bernard Madoff was beaten up in December by an inmate at his North Carolina Prison in an apparent dispute over money, The Wall Street Journal reports.

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The Journal, which based its report on three people familiar with the matter, said the 71-year old Madoff was treated for a broken nose, fractured ribs and cuts to his head and face.

The alleged assailant, described by the newspaper as a “beefy man,” was serving time at the federal prison in Butner, N.C., on drug charges.

Madoff is serving a 150-year sentence for running a Ponzi scheme that cost investors billions of dollars.

Reports had surfaced in December that Madoff had been taken to a medical center, but his lawyer, Ira Sorkin, said at the time that it was related to high-blood pressure and heart palpitations, The Journal says. Sorkin declined comment on the latest report.

The Journal quotes a Bureau of Prisons spokesperson as saying they investigated such a report at the time and that Madoff had told the staff that he had not been assaulted.

The Journal also quotes one former inmate as saying Madoff had offered him some financial advice by saying he should diversify his stock purchases “instead of putting my eggs into one basket.”

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