Posts Tagged: Bernard Madoff Results 29
Madoff is now serving a 150-year-sentence in the North Carolina federal prison that also houses Pollard and mob boss Carmine Perisco, who is reported to be another one of the convicted Ponzi schemer’s prison pals.
Bernard Madoff got in his first prison fight last week. And according to an account in the New York Post, the convicted Ponzi schemer emerged victorious.
The bout was no Ali vs. Foreman. Apparently, Madoff, 71, who is serving a 150-year sentence at a federal prison in Butner, N.C., got into a heated argument with another inmate, who is in his 60s, over the state of the stock market. Then the two settled the matter prison-brawl-style, sort of: “The inmate pushed Madoff, who shoved back harder with both hands, causing his attacker to stumble.”
Last week’s color photographs of Hitler’s home got us wondering: Do all dictators have awful taste? North Korea’s Kim Jong Il is well known for his gaudiness and these paintings from Saddam Hussein’s collection of fantasy art look like they’ve been rescued from beneath the bed of a teenage video game aficionado.
And now there’s a fourth man to add to our list: Bernie Madoff. Sure, he’s no dictator, but we wouldn’t be the first — or the second or third, for that matter — to compare him to Hitler. And, to be fair, his decorating skills are slightly better. But these New York Daily News photos of the inside of the Madoff’s Upper East Side duplex prove that while Bernie’s no Saddam, he’s definitely no Martha Stewart either (although they do have the jail thing in common).
After Judge Denny Chin threw down a hefty 150 year sentence to Ponzi-schemer Bernie Madoff, his wife, Ruth, who has remained quiet in her posh Upper East Side penthouse throughout the entire situation — except when she made the mistake of leaving her home in March to buy cheese — finally broke her silence on the matter. Her statement follows:
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. From the moment I learned from my husband that he had committed an enormous fraud, I have had two thoughts — first, that so many people who trusted him would be ruined financially and emotionally, and second, that my life with the man I have known for over 50 years was over. Many of my husband’s investors were my close friends and family. 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. My husband was the one we (and I include myself) respected and trusted with our lives and our livelihoods, often for many, many years, and who was respected in the securities industry as well. Then there is the other man who stunned us all with his confession and is responsible for this terrible situation in which so many now find themselves. Lives have been upended and futures have been taken away. All those touched by this fraud feel betrayed; disbelieving the nightmare they woke to. I am embarrassed and ashamed. 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. In the end, to say that I feel devastated for the many whom my husband has destroyed is truly inadequate. Nothing I can say seems sufficient regarding the daily suffering that all those innocent people are enduring because of my husband. But if it matters to them at all, please know that not a day goes by when I don’t ache over the stories that I have heard and read.
More tawdry news on the Madoff front. Lawsuits have been filed against Stanley Chais and Jeffry Picower for receiving what appear to be suspiciously generous and apparently preferential returns for their investments. An investigative report by ProPublica documents that Picower and his family withdrew an astonishing $5.1 billion from Madoff — more, apparently, than Madoff himself. Chais and Picower had been two of the most generous donors to Jewish causes, as well as a number of non-Jewish causes. (Just four months ago, Israeli non-profits held an event to honor Chais for his generosity through the years).