Ruth Madoff Breaks Silence: I Feel 'Betrayed And Confused'

NEW YORK — She's been hounded by news photographers, vilified by former clients of her husband and ostracized in high society.

She's also kept quiet for months _ until Monday.

Ruth Madoff _ memorably christened "The Loneliest Woman in New York" in a recent New York Times headline _ finally spoke out after her notorious husband got a 150-year sentence that probably makes certain she'll never see him again outside of prison.

"I am breaking my silence now, because my reluctance to speak has been interpreted as indifference or lack of sympathy for the victims of my husband Bernie's crime, which is exactly the opposite of the truth," Madoff said in a statement issued through her lawyer.

Prosecutors say her husband's multibillion-dollar Ponzi scheme wiped out clients of his investment advisory firm while bankrolling an extravagant lifestyle for his family, including country estates, a yacht and international travel.

Mrs. Madoff, 68, hasn't been charged with a crime. But a judge's forfeiture order has stripped her of $80 million in assets including a penthouse apartment where she still lives. That's left her with $2.5 million that couldn't be linked to the fraud.

Since her husband's arrest late last year, negative publicity casting the Madoffs as soulless symbols of greed and excess has made her persona non grata at her regular hair salon, florist and favorite high-end eateries on the Upper East Side, the Times reported.

Her husband of nearly 50 years came to her defense while addressing the court on Monday, saying she "cries herself to sleep every night knowing of all the pain and suffering I have caused, and I am tormented by that as well"

Ruth Madoff, though not at the courthouse, later expressed her own sympathy for the victims.

"Many of my husband's investors were my close friends and family," she said. "And in the days since December, I have read, with immense pain, the wrenching stories of people whose life savings have evaporated because of his crime."

The statement didn't overtly condemn her husband, nor address the couple's future. But she suggested she identified with his victims who were blind-sided by his dark side.

"I am embarrassed and ashamed," she said. "Like everyone else, I feel betrayed and confused. The man who committed this horrible fraud is not the man whom I have known for all these years."

Comments

[verycold]

It is very possible she didn't know, but that doesn't mean she shouldn't have known.

I like the idea from the convicted fraud guy that has written Madoff to sell his knowledge so that there is some way to recoup some of the loss. I should say first that many lost their savings that most certainly were not rich. Being rich is not a crime either and being rich doesn't mean they deserve to be swindled. If you honestly feel that way then you are corrupt as well. Nobody deserves to be swindled.

Anyway, if Madoff wants to protect his family then make a deal to tell all and have immunity for his family if in fact they are involved. We can't go back in time, but we NEED to understand how the system was so easily corrupted. Madoff needs to be encouraged to detail every more he made and why and who it involved. So how did his scheme go on for so many years and what was hard and what was easy. Make it a book, a video whatever, but charge for it and dispense the money to those scammed to at least keep them in food and shelter especially if they are very aged.

I would like to know all the facts and we won't know unless a deal is cut. Cut the deal soon because this guy is not a spring chicken.

[tkondaks]

verycold, you say she should have known.

Well, the SEC should have known...indeed, they were even TOLD about it and still denied.

If the SEC couldn't know about it, how could Mrs. Madoff?

[66rock]

Ah, because she was the bookeeper.

[Promise]

I do think it's possible for a woman to live with a man for many years and not know what he's really doing....the dark stuff. I lived with and loved a man for several years who was a genius at keeping the reality of his financial business from me. People can split their lives...tell their wives what they think their wives need to know and withold the rest.

Personally I with hold judgment from all of them. What part did the "victims" play in their losses? Who have they cheated? The law of karma is exact.

[SnarkyDude]

I have seen countless stories of people, mostly retirees who took the advice of a relative or friend or broker and put their honestly earned life's savings in the hands of Madoff, and are now either back in the workforce, or looking for jobs at an advanced age.

Tell us all how karma works again.

[waustingray]

the law of karma is anything but exact, but karma sure is a bitch

[Angelaaaa]

Ah, the rich eating the rich for a change. I feel about as much sympathy for his family as I do for the families of any other organised crime figure.

[elsellel]

So why didn't you LEAVE, Mrs. Madoff? Oh yeah, all the money... can't leave that now can we.

[jcko]

I hope she spends the bulk of her 2.5m on lawyers.

She doesn't know, my A$$.

[JZ735]

She is a liar...pure and simple...

[glesslib]

So far, no one knew except Bernie. He must have worked 24 hours a day, 7 days a week, 365. How could he get all those fake statements out, tend to bogus accounts, hide money, etc. and not a soul who profited from all of this, except Bernie, knew? Ruth, who worked there a couple of days a week and all the other employees have to be dumber than all those folks who couldn't tell that Clark Kent was Superman because he wore glasses.

[jcko]

Everybody around him knows.

He couldn't have been a one man band.

[roudy]

Of course she feels betrayed and confused. Bernie had assured her many times that they would never get caught.

[JZ735]

Marked as favorite...LOL...yes, this woman supposedly handled the books for her felonious hubby, or so I have heard...I do not get that this woman is running around free, getting 2.5 mil, and now professing to be confused by her husband's crimes and feeling betrayed...boo hoo, Ruth...talk to the hand!

[weebils]

I agree with Gore Vidal. I do not hate or dislike Madoff. He just stole from the greedy rich and tax havens masquerading as charities. These so called charities where board members make minimum six figure
salaries and in a good year maybe 10% of the take is really used for charity.

[SnarkyDude]

More than 100 charitable foundations lost more than $2 billion to the Madoff scheme.
If you are suggesting that each one of those, or even that MOST of those are they type you deride above, you're a f00l.

[JZ735]

I love Gore, but sometimes he is a little off, like he was about Timothy McVeigh, whom he seemed to have an infatuation with.

[weebils]

Yes, most are corrupt and give away very little money. They collect big fact salaries and help the rich write this off. I will be generous and say maybe five of the 100 were legit. And that is being more generous then they are.

[tekjensen]

There's a story about how his victims came from all walks of life.

[treadway123]

I lived with a man for 33 years, and he was in pain for yrs and didn't tell me. He's died this mo.cancer!

[antipasta]

What the hell?

[jcko]

Sorry to know that. He just didn't want you to feel the pain.

But you were not enjoying billions of dollars of riches like mrs maddog.

She knew.

[Montgriz]

so, you didn't notice? you must have been too involved in your prayers and social circuit...

[Martampa]

What a drama queen. Bet she was up to her neck in this scheme. If they use some enhanced interrogation techniques oh her do you think we can find out where Bernie stashed the dough offshore???

[JZ735]

Never will happen...he better not be headed off to some country club prison...I want to see him in a ward with murderers and rapists...

[allmorris13]

She'll live a happy life with that 2.5 mil. What she needs is jail time.

[jcko]

And victims' vengence. build a fort with that 2.5m.

[JZ735]

First of all, the 2.5 mil isn't hers...what was the Judge thinking? Glad to see Bernie getting 150 years...I am sure that will be commuted down to 10-15, "for good behavior"...yeah, right.

[Soapfan]

I'm sure she already has book and movie deal!

[ppp1604]

You don't know much about the Payday Loan business. A small payday loan business called Check Into Cash in Cleveland Tennessee has made it's owner a multi millionaire. All on the back of the poor.

Screw a wealthy person and end up in jail for 150 years. Screw a poor person and simply end up wealthy.

[Boadicea]

Let this be a lesson to us all - if you're going to swindle people, make sure they're not rich people!!

[booboo111]

You're not going to get much out of the poor.

[ppp1604]

You don't know much about the Payday Loan business. A small payday loan business called Check Into Cash in Cleveland Tennessee has made it's owner a multi millionaire. All on the back of the poor.

Screw a wealthy person and end up in jail for 150 years. Screw a poor person and simply end up wealthy.

[LeftLeanWing]

What I don't understand is if he had 170 billion in assets why didn't he liquidate and just pay off the 60+ billion dollar debt and then just keep the 110 billion in assets for - you know - pocket change.

[Indra]

The US government has created more mayhem than Madoff ever could. Why aren't people complaining about that in the same terms?

[Mygirl]

Huh !

[Billy Hell]

See! Neither the Obamafanmaniacs nor Bushfanmaniacs will like it.

[Happylib]

Ah, you're just talking nonsense!

[mommamia526]

Well!!! That is BECAUSE!!! And there are lots of people complaining about the U.S. Government, and Mr. Obama. We know where to find them, on Republican websites, at some ultraorthodox jewish websites, etc.

It is all part of a plan. Things have been going ON! Ahmadinejad keeps the muslim messaihah in a cave, Jeus has been sportted on the streets of the U.S. for decades and, recently, the jewish Messaiah has also been spotted.

Lookie here what has been going on? It is all working out as it should. Ruth needs to go on aliyah. No more crying, just tsjuvah!

[Tunghoy]

Methinks you're a meshuganah.