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Madoff Bound for Medium-Security Prison: Report

Bernard Madoff won't spend the rest of his life at a maximum-security prison as he had feared, according to a report that states the disgraced Wall Street financier is being transferred to a medium-security facility in North Carolina.

"Disgraced financier Bernard Madoff outside Manhattan Federal court in early March. The former banker won't spend the rest of his life at a maximum-security prison as he had feared, according to a report that states the disgraced Wall Street financier is being transferred to a medium-security facility in North Carolina."

According to ABC news, Madoff was being moved from New York about 400 miles (644 kilometers) south to the prison at Butner, North Carolina -- a facility widely described as a "crown jewel" in the federal prison system because of the reputation of its staff and medical facilities.

Sources close to the Madoff family told the network that the 71-year-old con-man -- sentenced to 150 years in prison for running the biggest financial fraud in U.S. history -- and his wife Ruth had feared he would be sent to a far harsher maximum-security prison.

"She will be greatly relieved," someone close to Ruth said, according to ABC.

The sources said that concern had focused on the "stress" that Madoff had suffered before and after his June 29 sentencing for his multi-billion-dollar scam that ruined Hollywood clients and middle-class pensioners alike.

Madoff reportedly confided to some people close to him that he considered going to prison as a new adventure similar to his time served as a second lieutenant in the U.S. Army reserves at Fort Bragg, North Carolina in the 1960s.

ABC also reported that Madoff's sentence had already been reduced by 20 years, citing federal prison records that listed the release date as November 12, 2139.

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