by Structured Settlement Watchdog
Convicted defalcator Joey Gargan, the disgraced structured settlement broker who had the temerity to rip off the United States Government and a New York minor's settlement, is now being held at Butner Federal Medical Center in Butner, North Carolina. FMC Butner is an administration security federal medical center housing 721 total inmates with special health needs, according to the Federal Bureau of Prisons.
Ponzi schemer Bernard L. Madoff, inmate 61727-054, spent over a year at FMC Butner before passing away on April 14, 2021. In 2020 Gargan pleaded guilty to embezzlement of government funds and wire fraud, embezzling $8 million in settlement money, including money intended for minors. Gargan, inmate 02366-509, was sentenced to 70 months in prison on September 23, 2020. Gargan began serving his sentence in January 2021 at FCI Loretto. It is not clear when Gargan was transferred to FMC Butner and whether he had the opportunity to play pinochle with Bernie before he played his final hand. Click to read more about the Joe Gargan Embezzlement.
In addition to stealing from the United States and ultimately its taxpayers, Joey Gargan allegedly flim-flammed multiple Pension Company settlement consultants for hundreds of thousands in unpaid earned commissions.
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