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Report: Shana Madoff Contacted Prison Consultant

A female relative of Bernard Madoff -- identified by the New York Post as Madoff's niece, Shana Madoff -- called a "federal prison consultant" to ask how much jail time she might be facing, the consultant told TPMmuckraker.

Larry Levine -- a former federal prisoner who now runs a company, Wall Street Prison Consultants, that gives advice to future inmates on how to survive prison time and win an early release -- said that a woman had called him about three weeks ago, saying that she might face conspiracy charges. At first, said Levine, the woman was hesitant to divulge any specific information, but, when pressed by Levine, said that she was a relative of Bernard Madoff, explained the basics of her situation, and asked how much jail time she might be facing. "No money changed hands," said Levine, describing the call as "exploratory".

Levine said he hadn't heard back from the caller since then, but that "it was probably Shana." The Post reported this morning, citing an anonymous source, that Shana Madoff had contacted Levine "because she was concerned about her safety" should she go to jail.

Shana Madoff, who is married to a former SEC enforcement official, worked as a compliance officer with Madoff's firm.

According to the Post, Levine "is still on federal supervised release after serving 10 years behind bars for counterfeiting securities." FedTime 101, his introductory class, teaches enrollees about "The Daily Prison Grind", "Your 1st Day What To Bring With, "Why Staff Lie & Dislike Inmates," and "How To Survive A Prison Riot," among other subjects.

The financial crisis has clearly meant boom times for Levine. He told us he has more messages than he can get to from prospective clients, and is appearing on Fox later today, after already being interviewed by CNN.


4 Comments

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I know he's just trying to get publicity, but, seriously, he's shooting his mouth off like a teenager after his first six-pack. In his business, I'm assuming discretion is important and this ain't it.

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Yeah, exactly. I have to assume anyone with sense and money would do prison-prep through their lawyers, which would be confidential. Rolling on a potential client doesn't seem like a great career move.
-- Jonathan

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Actually, these prison consultants are often pretty good, their having been inside before. They know as well as any lawyer, that's for sure. But this guy should absolutely be keeping his mouth shut and focusing on the clients.

There are services that you can get which keep you in all the necessities while you're in prison, and are there for advice as well. For white collar guys, this is a very very good idea. Unfortunately, I know this for a fact.

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I assume Mr. Levine exhausted all pecuniary possibilities before stabbing Ms. Madoff in the back. Shame.

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