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Bernie Madoff's bail was revoked today after he pleaded guilty to 11 counts of fraud in the biggest swindle ever. He'll be formally sentenced on June 16 and faces a maximum sentence of 150 years.
Madoff had been allowed to stay in his expensive Manhattan apartment on bail before today's plea. But that's all changed.
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CNBC.com |
Madoff is now in jail at the Metropolitan Corrections Center, very near the Federal courthouse building where he made his plea.
And he is now known as inmate #61727054.
The center is a high rise building run by the Federal Bureau of Prisons.
It's an administrative facility designed to house prisoners of all security levels. That includes male and female offenders appearing before Federal courts in the Southern District of New York.
Madoff's lawyer says he plans to appeal the remand to custody order but legal experts don't expect the judge's decision to be overturned.
Meantime, here's a look at what the 70 year old Madoff can expect in the corrections center:
- A daily count of all inmates at 4 pm with an extra count at 10 am on Saturdays, Sundays and Federal holidays
- Phone privileges ... but limitations and conditions may be imposed. He may only call numbers on his approved telephone list
- A law library with books, electric typewriters and computers. Each floor gets access to the library one day a week. There is also a leisure library.
- An inmate commissary
A majority of the inmates at MCC are pre-trial inmates. There is special housing for disciplinary segregation. That would be for inmates who commit serious violation of bureau rules. There's also administrative detention when the presence of the inmate would pose a serious threat to security. It may also include inmates who require protective custody.
-CNBC.com staff, Reuters and AP contributed to this story.
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