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Madoff Scandal: The Final Minions Meet Their Fate. After more than six years and 15 convictions, the Bernie Madoff Ponzi scheme, which cost his investors an estimated $50 billion, is finally coming to close. Continue Reading Below.
If Madoff serves 20 years in prison (the likely amount given that he is already 70 years old) and if he were imprisoned in Louisiana instead of New York, taxpayers would save approximately $583,860. Political scientists may argue that prison is a cost society agrees to pay for from the general taxation pot.