Sunday Musings: Prison Survival

Hat tip to reader Tom for submitting this article called “Madoff’s Niece Calls Prison-Survival Expert:

Bernie Madoff’s niece is so worried about doing jail time that she’s seeking prison survival tips from a consulting firm, sources told the New York Post.

Which brings to mind at least one curiosity: There’s a consulting firm that helps would-be inmates prepare for incarceration?

The answer is yes, and it’s called Wall Street Prison Consultants. On its Web site, in big, capital letters, WSPC asks visitors: “ARE YOU SCARED AND CONFUSED?”

Shana Madoff contacted the firm’s founder, a former federal prisoner named Larry Levine, the sources told the Post.

“A female relative of Bernie Madoff contacted me,” is all Levine would confirm to the paper. It sounds like she has reason to be scared.

Shana Madoff, 38, was a compliance officer for her uncle’s firm before it was exposed as one giant Ponzi scheme. As compliance officer, Madoff’s neice signed her name on a lot of legal documents.

Shana Madoff contacted Levine so that she can “learn how to game the system, so you end up in Club Fed, not Leavenworth,” a source told the paper.

With its “Fedtime 101” course, Levine’s firm instructs white-collar offenders on how to survive federal prison and earn an early release. These skills would come in handy for Shana Madoff, who grew up on six acres on Long Island. Her dad, Peter Madoff, is Bernie’s brother.

Levine said that another male member of the Madoff family has called him, the Post reported.

“I give people a wakeup call,” Levine told the paper. His course costs $850.

This story would be pretty funny if the situation surrounding it would not be so serious. Hopefully, if justice prevails as I mentioned in yesterday’s post, this business has an opportunity to blossom big time.

But why only charge $850? $85k or even $850k would seem more appropriate to me. Make those in need of this kind of information pay for it.

About Ulli Niemann

Ulli Niemann is the publisher of "The ETF Bully" and is a Registered Investment Advisor. Learn more
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