Bernie Madoff Beaten Up By "Beefy" Inmate, Offering Investing Advice To Friends On The Inside

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Remember back in December, when it was reported that Bernie Madoff got the shit beat out him, sustaining "facial fractures, broken ribs and a collapsed lung"? At the time, prison officials wouldn't say the injuries were a result of a brawl in the yard and Berns is no snitch, so he wouldn't say anything either. Today sources on the inside have confirmed that yes, Ponzi boy's face was rearranged by a fellow inmate who believed that Madoff owed him money. Here's what else we know about the attacker.

Mr. Madoff's assailant was a beefy man serving time for a drug conviction. The alleged assailant's mother said in an interview her son had not mentioned any scuffle with Mr. Madoff but that he had been a body builder and held a black belt in Judo until he was injured in a shooting in 2002. While behind bars he has regained strength and gotten back into shape, she said.

Anyway, that's all in the past. What has Bernie been up to of late? Giving out financial advice and watching Mel Gibson movies, mostly.

Mr. Madoff spends free time in the prison library on the weekends and often watches movies, including "Lethal Weapon," according to the former inmate. He said he chatted with the admitted Ponzi schemer on Saturdays in the library and asked for financial advice: "He gave me ideas on my index funds."

Mr. Madoff advised him to diversify, saying he should invest in funds that track the S&P 500 index of stocks "where my money would be on all the stocks instead of putting my eggs into one basket," the former inmate said.

He said Mr. Madoff also warned him off of day trading. "I was trying to get into day trading and he's like, 'That's not for you. That's for individuals like me with millions to spare,' " he said.

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