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Money | 03/05/2009 11:15 am

Vanity Fair: Madoff Victims Speak Out in Video

Shell-shocked investors from Manhattan to Palm Beach talk about life after falling for a $60 billion Ponzi scheme.
By The Staff at wowOwow.com
© AP

Many of Bernie Madoff’s burned investors are telling their tales in a widely circulated video by Vanity Fair.

The video, which accompanies an article following the trail of victims of Madoff’s alleged $60 billion Ponzi scheme, includes personal accounts from a half dozen shell-shocked investors — many of whom lost their entire life savings and are now living hand to mouth.

Maureen Ebel, an investor from Palm Beach who says she’s now penniless, remembers Madoff telling her over the phone that "all of your investment worries are over."

Apart from their financial woes, the victims also convey a deep sense of personal betrayal on seeing the man they once trusted exposed as a fraud. They’re also angry that, adding insult to injury, Madoff, who’s awaiting trial, has been allowed to live in his multimillion-dollar Upper East Side apartment

"Why is he not in prison?" asks one victim. "How can he be allowed to sit on his couch in his penthouse while the rest of us are scrambling?"

The article, which will appear in the April issue of Vanity Fair, offers sordid details of Madoff’s world, describing plush parties in Montauk, NY, and a few of his favorite haunts — including a downtown restaurant where the "Madoff table" has become a popular tourist attraction.

The Vanity Fair video can be viewed here

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

Ms. Dee
This is just a tragic injustice.  It seems like, since the SEC ignored so many red flags, they should assume some liability for the restoration of these funds.  But prison’s too good for this hijacker.
By Ms. Dee on 03/05/2009 11:55 am
Belinda Joy
That must be cathartic for them…..I say good for them.
By Belinda Joy on 03/05/2009 2:01 pm