Bernard Madoff Update | 06/16/2009 9:35 am
Vanity Fair: How Could Madoff Sons Not Have Known About Dad's Scheme?
Meanwhile, more than 110 of Madoff’s alleged victims want maximum sentence for man they call a ‘monster.’
© AP
What did Bernard Madoff’s sons know and when did they know it?
Those are just some of the questions David Margolick is asking for his latest installment of "The Madoff Chronicles" in the July issue of Vanity Fair.
The mag asks:
"The question from everyone connected to Bernie Madoff’s sons is: How could they not have known their father was perpetrating a $65 billion fraud? Both the gregarious Mark, 45, and the more cerebral, tech-savvy Andrew, 43, worked for Bernie their entire careers, yet maintain they’re completely innocent. Talking with their friends, surrogates and former colleagues, the author explores the brothers’ relationship with their strict, secretive father, their different reactions to the scandal, and one possible explanation for the ignorance they claim."
The two Madoff sons have worked together for years, and their personal lives haven’t differed all that much either, but the way they each have handled dad’s demise has. Neither has reportedly spoken to their father since he confessed his sons to them, nor to mom Ruth, because they think she will always side with Bernie no matter what. The investigation into Madoff’s $50 billion Ponzi scheme and Bernard L. Madoff Investment Securities continues, and many expect Mark and Andrew will be indicted. If and when they start talking, more trouble could be coming. Don’t rule out Ruth being in the spotlight, either.
"I think that to some degree, Andrew and maybe Mark feel somewhat liberated by all of this," Margolick said this morning on MSNBC. "They feel they’re finally out from their father’s shadow and perhaps, that’s a victory for them."
Papa Madoff is facing a maximum of 150 years in jail at his June 29 sentencing. And more than 110 of his victims have sent nasty e-mails calling him — and wife Ruth — a "monster," among other things, to the New York judge presiding over his case, asking that Madoff be put away as long as possible.
"It’s like people in the concentration camps during WWII watching the Nazis enjoying themselves using the property, money and other possessions that they had stolen," one female victim wrote, according to the New York Post. Emma De Vita, an 81-year-old widow from Chalfont, PA, called Madoff a "psychopathic, lying egomaniac" who has "condemned his investors to a life of hell."
Read more about: Bernard Madoff, investigation, Madoff Securities, News, Ponzi Scheme, Punishment, Sentencing, U.S., Vanity Fair, Victims
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43 Reader Comments (so far…) Sign In or Register to comment
What’s with this faimly, His wife and kid had to know what he was up to. His kid aren’t little their adult. THey have no morals, they think what his is theirs and vise versa. NY is a common law state which means she’s just as liable as he is, but she said she doesn’t intend to give up what she has, multiple homes, jewlery, etc. If the powers that be do the right thing they will take everything they have and liquidate it and pay back all those people he robbed. My God he stole from charities, whiat kind of person could do that. I hope he gets life in prision with no chance for parole, his wife should get a job and learn how to earn what she has.
Ive known a lot of criminal families over the years. I was often the probation officer of a child/children who had been raised in criminal families. often they were third or even fourth generation criminal. I can’t describe to you how powerful the parents of a criminal family are in their children’s lives. these kids are groomed virtually from birth to be what they become. and they are groomed by incredibly talented and manipulative people. Bernie Madoff charmed and manipulated at a level that most criminals only dream of. he’s like the doctorate level professors mentor were he a teacher of this. So if his kids knew…. I feel for them. I do. The power of that in their lives is indescribeable.
I’m going to guess they knew "something" but far from everything. I’m goign to guess that Madoff is the kind of guy that never allowed ANYONE to REALLy know him. the closest would be Ruth. she knew him. but i’m guessing the two of them were a closed circle and that even their children were somewhat on the outside.
I suspect that Ruth and the boys will see some serious action once Bernie is put away for good on June 29. The penthouse has been used to secure his bail and, when he has been sentenced, bail will no longer be an issue.
As a victim and because, for other reasons, I shall be in NYC on the 29th, I am wondering whether to go to the sentencing or not. What do you think?
My comment about the penthouse is based on material in the NY Times last Sunday:
Dear Sam,
I am sorry for your loss and saddened that it was done by someone whom everyone seemed to trust. If it was me, I think I would stay away. The man is a piece of slime and no matter what sentence he receives it will not be enough. Even if you were in the courtroom listening, I do not think that you would feel relief from hearing him put in jail the rest of his life. It does not matter what sentence he receives, he will never be a free man again, and the things that mattered most to him, prestige, fame, wealth, will never be his again. His name will live in infamy for hundreds of years. I was very surprised that no one tried to shoot him on his way to court, but maybe cooler heads prevailed. There is a judgment after this world and that is the court that he should be concerned about, he will pay for all the sorrow he has inflicted upon so many innocent victims. Do not lower yourself to see this scum in person, you will feel cleaner in your soul. May God bless you and all his other victims.