Madoff Sons Aren't Talking to Mom and Dad

The NY Post has quite a few articles devoted to $50 billion Ponzi schemeister Bernard Madoff. First, Madoff's two sons haven't spoken to "disgraced financier father since they turned him in to the authorities on Dec. 11." They haven't spoken to their also under-investigation mother either. The Post adds Fifth Avenue Synagogue members lost about $2 billion: "The synagogue was a breeding ground for Madoff investors" since president, J. Ezra Merkin, "reportedly served as a powerful recruiter for the alleged scamster" and gave "Madoff, who does not belong to the synagogue, access to a slew of universities and Jewish organizations." Then there's the 60-something recent widow whom Madoff convinced to "hand over her entire life savings...just weeks before his arrest." The Daily News gets Palm Beach chronicler Lawrence Leamer to break down Madoff's secret: "His was the shrewdest hustle... He seemed not to want your money or care about your wealth - and he was very quick to turn it down - so all you wanted to do was give him more."

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By Jen Chung in News on December 21, 2008 7:04 PM

Comments [rss]

Lautaro

I chuckled at 'schemeister'. Coinage props?

FelixtheCat & Christine Quinn'

His son shopping in Soho, yep he is involved

http://www.nypost.com/seven/12222008/news/regionalnews/madoffs_son_in_shopping_gall_145390.htm#comments

Lautaro

It's so easy to get blinded by all the "billions" Madoff is accused of misappropriating. What's important to note about this case is that his greed was not limited to just the big fish- he had no qualms about taking the entire life-savings of retirees; grandmothers, grandfathers, uncles and aunts. I'm really concerned about what they're going to do. If all this had been revealed during a better economic climate, these victims would at least be able to depend on family and friends for assistance. I don't really know what they're going to do.

GM

How is it a hustle to not want people's money? This guy had an amazing career and then got under water. I imagine he hoped he would make up all that money at one point--- kind of like all the people who think theyre going to pay off all their credit card debt yet keep using their cards.

FelixtheCat & Christine Quinn'

Do you think his Wharton son ever question him on his trading and performances? of course they discuss with each other the business . The sons were involved and so were his employees such as Frank. I am sure they discuss it all in their offices and in their infamous Christmas parties.

NannyState

The sons worked two floors above Madoff and Madoff had his 'inner scam' operation on a totally separate computer system. And yes, that "distance" could actually be Madoff himself trying to protect his kids, but then again, he might just as well have scammed them out of their money too.

mtauser

I doubt his kids were involved.

FelixtheCat & Christine Quinn'

Stop the lies, those sons were involved. There is no way they were not involved. Madoff did not send all those tickets and statements on his own.

Rocknrope

Seriously, this guy needs to stop fucking smiling in all his photos ops.

ides_of_march

There needs to be a serious major crackdown on white collar crime. Unfortunately, most politicians are paid off by these crooks.

I don't see a lot of difference between Madoff, the bandits on Wall St and the thieves in Congress.