Madoff Madness | 04/13/2009 10:15 am

Life Isn't Pretty for Ruth Madoff (or Shana Madoff)

Ruth Madoff: banished from her posh hair salon out of respect for other clients bilked by Bernie … Shana: fears future in jail, hired prison consultants

By The Staff at wowOwow.com

Bernie Madoff’s wife may have to style her own blond locks.

Ruth Madoff has been politely asked to no longer attend her posh hair salon, the Pierre Michel Salon. The banishment is out of respect to the customers — many of whom lost a fortune from her Ponzi schemer husband.

"The Pierre Michel salon’s clients are among some of Manhattan’s most elite," said a rep for the salon, which is located on East 57th Street. "Unfortunately, some of those clients were victims of Madoff, and therefore Pierre Michel didn’t feel comfortable having her in the salon."

Mrs. Madoff isn’t the only family member facing an uncertain fate. Madoff’s niece Shana Madoff — who worked at Madoff’s firm and signed off on a lot of Madoff’s documents, many of which were botched — reportedly fears jail time in her future. The thirty-eight year-old daughter of Peter Madoff, Bernie’s brother, was a compliance officer at Bernard L. Madoff Investment Securities. And according to the New York Post, she’s already contacted Larry Levine of the Wall Street Prison Consultants. The company offers an $850 course to teach future inmates how to land in white-collar prisons and how to secure early releases.

33 Reader Comments (so far…) Sign In or Register to comment

No sympathy for either of them here!

By Green Tears on 04/13/2009 10:18 am

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NO sympathy whatsoever for her and her thief of a husband. Frankly she belongs in jail with him and her boys.

By f p on 04/13/2009 10:29 am

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I agree! That man and probably the rest of his family ruined so many lives. It’s time they pay their dues.

By M J on 04/13/2009 10:37 am

But she does have good hair.

By ~ ~~ on 04/14/2009 2:50 am

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BUT HER ROOTS ARE SHOWING—POOR THING!!!!!

By Irish Eyes NY on 04/14/2009 5:02 pm

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Oh goodness I think i am going to cry! NOT…I think the whole lot of them need to be in jail…You can’t tell me Bernie was the only one who knew about his sceme and kept is a secret from everyone else getting so rich?

I have no symphany or feelings for this family at all…and if I was a baby being born w/ that last name, once I got old enough to know better, I would petition the court for a name change. Even if I was a cousin 3 times removed…

By C Hardy on 04/13/2009 10:33 am

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I’d like to know how she comes up with the 64Million figure. Boo Hoo Ruth wash and blow dry your hair like I do everyday. How about some of those poor retiree’s that may never even see any money back because this will be tied up in the courts forever. I’m not a mean spirit person but she should be on KP in prison.

By Barbara B on 04/13/2009 10:36 am

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Poor Dear, now she may know what life is like for the people SHE and her husband stiffed.

No sympathy whatsoever !!!

By EKA - on 04/13/2009 10:43 am

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Interesting that Shana assumes she is going to jail——also interesting that the ‘I didn;t know what I was doing" excuse hasn;t been put forth, either…but then…how could one use that excuse, when they are getting paid to know about compliance issues?… translated…she knew what she was doing was fraud.

In past years, IMO, many many people were able to get away with fraud, especially if they had lots of money, and knew the right people, and included them in the collusion ‘profits’…..Nice to see things have seemingly changed.

Do y’all think it is because rich folks lost their money? or because we have a President who vowed to go after the crooks, for a change? How and why, all of a sudden, did ETHICS take a front-row seat? I am all for it!

By Patty E on 04/13/2009 10:53 am

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In the Madoffs’ case, I think it’s because of the enormous size of the fraud, with huge numbers of people affected and not just the rich, either. Plus, this broke at a time when the economy was tanking and many regular people were having severe financial problems… then they hear that this multimillionaire and his multimillionaire family members made their personal fortunes by cheating the unsuspecting public.

At any rate, I agree with you, I am all for ethics taking a front-row seat too!

By Lila Kuh on 04/14/2009 11:27 am