BUSINESS
05/16/2013 02:44 pm ET Updated May 16, 2013

Bernie Madoff Basically Earns As Much As A Bangladeshi Garment Worker: Report

Getty Images

Bernie Madoff and garment workers toiling away in Bangladesh now have something in common: They make almost the same wage.

The famed swindler revealed in a phone interview with CNNMoney from prison that he’s making about $40 a month maintaining the prison’s phone and computer systems. That’s only $2 more than the $38 minimum wage that garment workers make in Bangladesh.

The factory workers could out earn Madoff soon, though. Bangladeshi officials convened a panel earlier this week to look at raising the minimum wage in response to the tragic garment factory collapse last month that killed more than 1,100.

Madoff’s super-low wage is a far cry from what he was making as a Wall Street tycoon less than 10 years ago. Once a billionaire, he’s now facing 150 years in prison for taking billions from investors in a Ponzi scheme. Madoff is so broke in fact that he had to call CNNMoney collect.

(Read the full Madoff interview at CNNMoney)

HuffPost

BEFORE YOU GO

PHOTO GALLERY
Billionaire Scandals Of 2012
CONVERSATIONS