The U.S. Bureau of Prisons has denied published reports that say convicted fraudster Bernard Madoff is dying of pancreatic cancer.

The New York Post reported Monday that the disgraced financier is terminally ill. Bernard Madoff is shown on his way to Manhattan Federal Court on March 12 where he pleaded guilty to one of the biggest Wall Street frauds in U.S. history. (Louis Lanzano/Associated Press)

Reports said Madoff has been telling inmates he does not have long to live.

"He's been taking about 20 pills a day for his cancer," the Post quoted one unidentified inmate as saying.

"He talks about it all the time. He's not doing very well."

But later on Monday, the U.S. Federal Bureau of Prisons said reports of Madoff's illness were not correct.

"Bernie Madoff is not terminally ill, and has not been diagnosed with cancer," Bureau of Prisons spokesperson Traci Billingsley said in a statement.

Madoff is serving 150 years in a federal prison for engineering a multi-billion-dollar Ponzi scheme that defrauded thousands of investors.