Andrew Madoff Didn't Suspect Father Of Ponzi Scheme

NEW YORK — Andrew Madoff (MAY'-dawf) says he never suspected his financier father of running a Ponzi scheme because he grew up hearing what a legend he was.

He says people had an incredible vision of Bernard Madoff as a "spectacularly skillful trader."

Andrew Madoff made his comments Monday during an appearance with his mother, Ruth, and his fiancée, Catherine Hooper, on NBC's "Today" show.

Their appearance coincided with the publication of "Truth and Consequences," by Laurie Sandell. It contains extensive interviews with family members.

Andrew Madoff says the book provided an opportunity to say in their own words what had really happened and "to speak to the thousands of victims I don't know."

Ruth Madoff says she doesn't miss her imprisoned husband. She says: "The villain of all this is behind bars."

Comments

[Parade Keegan]

08:26 PM on 11/02/2011

Liars, IMO.

[RonH1]

02:06 PM on 11/01/2011

I agree the people that invested with Madoff were themselves greedy. They saw something too good to be true but their blinded greed got the best of them. They all deserve their losses. Now the people who invest with his son should just be laughed at. Experts saw Madoff for what he was years before the final straw fell. The kid and the wife saying they knew nothing is just ridiculous. His education and experience makes that statement almost impossible.

[libgrrl]

09:55 PM on 11/01/2011

I kind of thought the same thing. They seem convincing, but how can you be that close, both his sons worked at the company, and not know something is not right, especially after so many years. As money keepers they are trained to know. I could see his son falling for his fathers "legend" status only if he were out of the loop. Maybe he "knew" and ignored it. Sometimes people have "silent" agreements, suspected but never discussed or brought up to avoid involvement.

[ikereeves]

05:50 AM on 11/01/2011

Two words:
Carmela Soprano.

The wives know. Maybe not some of the kids, but the wives always know. Especially when the profits are out of proportion. They may turn a blind eye, as happens often, but they know.

[ikereeves]

05:39 AM on 11/01/2011

It's a BOOK! Don't forget- they're on TV to SELL A BOOK!!
Not to express remorse, not to atone, not to make things better for anyone else whom they hurt.

A book. And of course the PROFITS resulting from sales.
Don't buy it. Maybe stealing it would be appropriate, (disclaimer; do not attempt anything illegal) but buying it certainly wouldn't be.

Yeah, the family didn't know. I guess you'll find the book in the fiction section.

[ttargett]

04:58 AM on 11/01/2011

You don't grow up with Bill Belichick and not learn about football. Madoff 's seem to have figured it out, dad is happier than he's been in 20 years behind bars (also protected at taxpayers expense) and the family is now divorcing itself and so as to get on with their lives. My husband was despicable but the money was heavenly. If it only it were that easy for the 1000's who lost everything, not just a home in the Hamptons.

[Emmit Penny]

03:01 AM on 11/01/2011

Shame on 60 Minutes for having anyone from the Madoffs on TV. How much did they pay the family??? We all know they didn't do it for free. What? Is Ms. Madoff''s 2.5 MILLION running out?

[bonnieb333]

04:05 AM on 11/01/2011

"Shame on 60 Minutes for having anyone from the Madoffs on TV." Do you mean for having any of the Madoffs (themselves) on for an interview?

Don't be so sure they got paid one cent unless you know or have information that will back up your statement.

[REMEMBER2050]

12:45 PM on 11/02/2011

"60 Minutes" doesn't pay anyone. Do you actually read what you write before you hit the "post comment" button?

[Madeleine Douglas]

02:36 AM on 11/01/2011

It is quite possible that Ruth and Andrew Madoff did not know about Bernie's enormous misdeeds. A little tweek here, a little twist there..... Bernie Madoff is a PSYCHOPATH and SOCIOPATH, a Consummate LIAR and Con Artist. He would not be the first person discovered at the helm of such a scheme, whose family was completely in the dark, WOWED by a false "legend" created. I do not know what circumstances Ruth Madoff is living in now, I've not read.... but I do recall that her situation was dramatically diminished from her former life. And, being the wife of one convicted as a Ponzi schemer is not a crime.... if she were culpable, she would have been taken in to court.....despite Bernie's assumption of ALL guilt. Likewise, being the son of Bernie Madoff (if Andrew was not involved in his father's business, I do not claim to know, having not read much about him)....simply being Bernie Madoff's son is not a crime either. I am NOT, NOT, NOT, a fan of the rich in this country.....however, IF Ruth and Andrew Madoff are on the level, they should NOT be tried in the court of public opinion for the sins of the Father.

[dapyb]

02:12 AM on 11/01/2011

F the Made-offs and F CBS for giving them a soap box.

[dmarrs7077]

02:01 AM on 11/01/2011

that woman knows where a ton of money is hidden

[jabster62]

01:27 AM on 11/01/2011

After actually watching the 60 Minutes interview, I was totally disgusted by this family. The thought of whether they knew what was going on or not somehow was overshadowed by their attitude that the biggest victims in this whole thing were they themselves.

Not feeling much sympathy for the Made-off (with millions) family.

[PaulaMV]

02:10 AM on 11/01/2011

Totally agree. I don't believe for a minute the family was clueless. And if Andrew really wanted to clear the family name, then he would donate any book profits to his father's victims. (The 60 minutes story said he cannot benefit from book sales, but his wife can...which means he can!)

[clematisvine]

01:25 AM on 11/01/2011

I believe that the family didn't know anything about the crimes Bernie was committing. How many of us exactly what our spouses, our children, our siblings actually do at work. We know their occupations but we don't know exactly what they are doing. It's time to stop persecuting these people. It's Bernie who committed the crime & he's behind bars. Leave this family alone. They've lost everything, just like the rest of Bernie Madoff's victims. The family are victims too.

[keithd561]

02:02 AM on 11/01/2011

You're an idiot.

[REMEMBER2050]

12:49 PM on 11/02/2011

The logic behind that post is that family members weren't charged. This is a country where you are innocent until proven guilty, at least as of the last time I checked. Speculation seems pretty stupid when obviously there wasn't enough evidence to prosecute. If you don't like the family, don't read the book, boycott "60 Minutes," collect new evidence and present it to the appropriate prosecutor, whatever.

This column has more speculation and more cowboy justice even than the comments you'd find in all the Cain sexual harassment articles.

[PaulaMV]

02:12 AM on 11/01/2011

His wife got $2.5 million.

[stephanie67]

01:22 AM on 11/01/2011

I have read many of the comments and I am alarmed to see so much anti-semitism being voiced here. This isn't a religious issue and even if it were, condemning a religion or a race for one of their people's behavior is not what America should be about. He was not innocent of his crimes and is now incarcerated and paying for those crimes. Why should his religion or the culture he was born into have any bearing on his crime? Enough already. Comment all you want on him but leave his religious tradition out of it. By the way, I am Irish. French Catholic....just in case you were wondering.

[vparis325]

02:35 AM on 11/01/2011

FYI...No one is wondering...

[celloprofundo]

06:02 AM on 11/01/2011

Thanks for trying to be fair and balanced, but I'm sure if you lost everything you had to Bernie, you would be coming up with something a little bit more acidic then anti-semitism yourself.... bet your anti-capital punishment as well...just wondering..

[shirland85]

01:19 AM on 11/01/2011

In my house, my husband makes the money. He has a job and he works and pays the bills. I don't question him, I trust him. Just as she did with her husband.
I still think what he did was wrong but by no means should he spend 150 years behind bars. My gosh people, when you have money and give it to someone to invest, you need to keep an eye on that person. Share the blame here. Take some responsibility for your own money. The government has taught us to keep an eye on our money. They have done far worse then him, but yet we let the government get away with everything.

[PaulaMV]

02:15 AM on 11/01/2011

Maybe you would feel differently if you lost all your savings to a sociopathic, narcissistic thief.

[twotoodou]

01:16 AM on 11/01/2011

Yet another instance of the man taking the complete blame. The fact that this criminal named Ruth Madoff is not in prison is travesty of the worst kind. Now, typically as only a woman do, she is going to profit off of this man, again.

[paul4v44]

01:13 AM on 11/01/2011

She says she didn't know but she HAD to have known....

[vparis325]

02:38 AM on 11/01/2011

It's funny how she wasn't questioning where the money was coming from PRIOR to him getting caught...so why should we believe her now that money isn't coming in anymore!

[bonnieb333]

04:16 AM on 11/01/2011

No, she didn't HAVE to know.

Millions of women never knew their husband cheated on them.
So why do you say Ruth Madoff "HAD" to know???