Ruth Madoff Is Living In $3.8M Waterfront Mansion In Connecticut

Ruth should be in prison also.

Lol, I'm a new DL character

Has David Letterman expressed his condolences to the lovely Ruth in her 3.8 million dollar mansion?

Awe, she's living with her older son's first wife. Ruth was upset when they divorced and stayed close to her. Good for her.

^ Hi, Ruth

OP- Are you the same troll 😈 who puts that under your posts- for years

Setting aside whether she's a criminal or not, this is absurd since it's not her home.

If someone else is willing to let her live with them, the OUTRAGE is silly.

On the one hand, her husband was so fucking vile and his crimes so shameless that she has to share the guilt of association — and her payment, however meagre relative that to which she had been accustomed, was more than generous considering the outcomes for many of her husband's clients. On the other, how awful to have the weight of that terrible man yoked around her neck for eternity; if she was able to maintain good relations with ex-in-laws and reaps the benefit now, I can't hate for that bit (and in an ugly house, no less.)

No one hates her, OP.

Is she living in the maid’s room off the kitchen?

@r7, Silly, we live to be outraged. It's the idea of Ruth living the outward signs of the "good life" when so many that her husband ripped off are living hand to mouth. Optics are everything

She’s downsized to a Subaru. How charming.

"No one hates her, OP. "

Yeah, a lot of people do

Losing both children is a pretty biblical punishment if you ask me. She might have known something but I don’t think she was deeply involved.

I wonder what her emotions are with his death closing the final chapter on that story.

Can you imagine how much a publisher would pay for the rights to her memoirs?

Frankly, I have a lot more sympathy for her than the murderers people keep crying about to release from jail, like the Manson girls and now Menendez brothers.

[quote]her husband was so fucking vile and his crimes so shameless that she has to share the guilt of association

No, she doesn't. You may want her to but there's no real moral or ethical reason to blame the wife for the crimes of the husband.

If you think she was involved and committed crimes herself, fine. The trustee in the settlement case apparently didn't think she was involved, and she was never charged. Maybe you have other info or opinions. I get that. But to say the wife inherently HAS to share the guilt because she was married to a criminal is just messed up.

[quote]Losing both children is a pretty biblical punishment if you ask me.

Honey, biblical is being banned from your hair salon.

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Bernie is rotting in hell now...good riddance.

That’s quite the cottage she has! 😏

[quote] No one hates her, OP.

Not so fast, buster. Many many people think she was aware — she was his wife after all.

She spent 50k a month.

They said they recovered 80% of the money invested. If she’s hiding additional assets she’ll have to be very careful.

Going from waterfront in the Hamptons to waterfront CT is like being banned to Siberia, And via Subaru? I'm sure she's envious of Bernie, at this point.

All the excuses for his wife, oh my; he did it a lot for her. Oh well, he was a bit a modern and ewish Robin Hood, partially taking from the rich and very rich and giving it to himself and to his family. Don't know how many posters here and in similar threads are by paid posters and automatically generated, but it is similar to other situation where things like 'I didn't know' are said. Every low worker in a company knows a lot, if he isn't totally disinterested and what not. Who believes these 'I didn't know' sentences, and lack of knowledge does not excuse from guilt, ignorance even less, but the former neither.

What the hell would you be spending 50K+ a month on? I can't imagine..

Maintaining three boats, a private jet and four residences.

I think that she did not know anything. What I find shocking is that in this day and age there are indeed many women who literally have no idea about what their husbands do and where the money comes from. Their only concern is that there is money whenever they need it. I feel the same about the many women who still suffer from physical abuse in today's society. Do you think that many mob wives knew what their husbands actually did? Some things never change...

But, I don't feel sorry for Ruth. Even with the loss of her children. Many people experience that and much worse. She got $2.5 million, her grandchildren, and lives an above average life. I don't begrudge her because how she lives. She had many spectacular years with all of the money and was exposed to a variety of lifestyles. I wouldn't expect her to be living in a hovel. So, instead of the Rolls Royce she has to drive a Suburu. Instead of living in a 40 thousand square foot house in the Hamptons she has to live in the 3000 square foot townhouse or with her daughter in-law. Instead of shopping at all the top elite stores she has to shop at Neiman Marcus. Such a tough life....

[quote]Bernie is rotting in hell now...good riddance.

He was a Jew, dear.

I think deep down, these women must suspect something shady is going on, but don't know the details of it and don't want to know.. as long as the money comes in for their extravagant lifestyles.

Before the scam went bust, Ruth drove a Mercedes station wagon that was several years old. There was no Rolls Royce.

That home is beautiful. This reminds me of the books about women that’d become destitute after their husbands went bust and forced to live off of the kindness of relatives. In this instance, wealthy relatives.

I still think losing both children sucked. The one that committed suicide with his baby in the room was a fucking cowardly bitch. So what daddy isn’t the most popular man in your social circle, you have a child to take care of. At least run your car off the road so it can look like an accident rather than an suicide which pus nothing.

R32 I agree.

He didn’t commit suicide because of shame. He did it because he lost the life of luxury and the friends and power be was used to.

Yeah, I'd be surprised if she knew enough about the business to know about the illegal activities.

Women of her generation simply let their husbands do their business and weren't particularly involved in the details as long as the money kept rolling in.

However, when things started going bad, I'm fairly certain she would have demanded to know the full extent in order to assess how bad things were. He probably told her at a high level what he'd been doing and how bad it could get. At that point, I do believe she might have taken action either with his knowledge and direction or not, to protect herself. I've also got to believe that his plea deal protected her in some way.

"Bernie is rotting in hell now...good riddance."

"He was a Jew, dear."

Well, Ruth now has to shop at Target = Jewish Hell

When the rich go poor, they don’t jump into a refrigerator box and eat out of dumpsters!

Ruth On No Assistance

R25 accuses us of being paid posters yet sounds like a sketchy AI script himself, so weird.

[quote] Oh well, he was a bit a modern and ewish Robin Hood, partially taking from the rich and very rich and giving it to himself and to his family.

More anti-semitism. Charming.

I love you, R16.

I still can't figure out how Madoff pulled this off operationally. How was he able to produce thousands of monthly statements with just 2 or 3 people? Who was the computer programmer? People didn't compare statements with other holdings? I still have so many questions....

What an eloquently written article at r18.

Consider his r41, when you check your bank accounts you assume the money is really there. Same for our 401ks. We have no guarantee that either of those digits reflect real hard cash, they are just numbers on a screen or seen on a piece of paper. Madoff has been working for years so there was no reason to assume this was a scam. BUT, the Securities and Trade Commission was supposed to investigate the abnormal activity of Bernie's funds. Since he was trusted in the businesses they failed to do their due diligence. He may still be running his fake fund if it weren't for the Great Rescission causing too many investors to pull out their money and questions to arise about the good news he kept selling investors.

But, he just made shit up and flubbed the numbers and trades. How he never got caught is what's concerning on my end. He turned himself in because he saw that the con was no longer going to work, but it ridiculous that no one else caught on to this con.

Bernie deposited his victims' "investments" in Chase Bank. But he never made any investments on their behalf. So Chase is holding some $2.6 billion in the account of an investment firm and they never inquired why it was never used to make investments?

Chase, Ruth, the SEC - they ALL knew.

R43, I'm not saying it was the case with this but sometimes people do catch onto the con or are suspicious but you still can't get the regulator to investigate or to understand it. Recently that happened here in the UK with 'Football Index'. FI was a ponzi (the link says pyramid but I think ponzi is more accurate). Multiple people warned the Gambling Commission who gave FI their licence but the Gambling Commission just wasn't interested or didn't understand FI. Truly bizarre but whether due to incompetence, laziness or corruption, it happens even if people warned about it. I witnessed several people talking about how they'd warned about FI on twitter while their regulator allowed FI to trade, and this all happened over the last year.

I think that 'Tether' in the cryptocurrency world is another potential big scam just waiting to be exposed.

r44 I didn't know that. So what was with all the tears from people about losing everything? If it was chillng n a Chas bak account then everyone was pretty much set.

[quote]No, she doesn't. You may want her to but there's no real moral or ethical reason to blame the wife for the crimes of the husband.

R16: She has to carry some measure of guilt by association in my mind. I can buy completely that Madoff's wife and even his sons (who seemed more than a bit dim) were kept in the dark about the Ponzi scheme, the essence of which, after all, hinges so heavily on the appearance of confidence in a lie that the sensible thing to do is to share the burden with no one. She had a role in balancing business accounts but even so I wouldn't assume any culpability in her husband's crimes. To a point...

She did, however, withdraw $10M from their brokerage account (partly owned by Madoff) the day before his arrest, and a further $5.5M one week before. And that's the exact point at which she assumed some measure of guilt. Their world was going to collapse like that of some of her husband's fleeced customers, yet she had the advantage of resources from which to withdraw cash while the robbed investors did not. It's at that point she's something more than a kept in the dark for her own good wife, unaware of the mountain of crimes from which she and her family benefited but others, those who fed the machine with their investments, lost.

How do you measure that measure of guilt? I don't know. But at some moment —extraordinarily late in the game I would say— she was let in on the nature of the thing and it clearly was not legal. Hurry, grab all the cash you can and put it out of sight and out of reach: these aren't the words of a man who is not in deep legal trouble (of his own digging), and they aren't actions that presume anything but culpability, by Bernie Madoff and yes by Ruth Madoff at that point.

Do I think she she be hung upside down in a public square execution? Do I think she should bear the burden of law that her husband did? No. But grabbing $15.5M out the bank on your husband's advice after he's told you that he will be arrested for the biggest Ponzi scheme outside organized religion, something about that rubs me wrong and says that in that one action (or two hasty withdrawals) she took hands-on actions where she should have been hands-off. Those actions were pure greed.

Of course mine is not a legal opinion nor an ethical or moral judgment, just an observation of facts and my own conclusions. If only for a moment, or rather two at least, Ruth Madoff had her hands dirty when she scurried to scoop up $15.5M in cash so that she wouldn't turn out to be poor "Ruth Madoff: Living on $1.9 M in Connecticut."

It’s just incredible to me that he promised a fixed return when you’re never allowed to do that. There’s always a disclaimer that states your fund may lose money because it’s not a loan. It’s an investment. Plus, if he played in interest rate futures and swaptions, he was supposed to let them know they could actually owe more that their initial investment.

People at the SEC should have been held accountable as well.

R44, it wasn't just chilling in the account. He used the fresh money from new investors to make payments to old investors when they decided to withdraw money from their investment accounts. A classic Ponzi scheme. But old investors didn't make that many withdrawals because there were (on paper) making such reliable returns.

That changed during the financial crisis when lots of people needed cash and started making withdrawals greater than what was on deposit in the Chase account or could be covered by fresh investors.

But none of that money was ever actually invested in securities. Chase had to know.

I would be quite interested in seeing a report about the conned investors today. How have their lives changed? Were any able to make a "come back," so to speak? Has their outlook on life changed? How do they now feel about the whole mess.

That house is nicer than any place I'll ever live, but at under 4,000 square feet and on less than half an acre I'd hardly call it a "mansion."

What I still find most galling is that the SEC in Boston and New York was repeatedly presented with evidence of Madoff's fraud but did nothing. The Central Bank of Ireland didn't notice anything amiss, either. It wasn't until he couldn't pay his accounts that he confessed to his sons, who then told the authorities. Other firms refused to deal with Madoff in the '90s and '00s because they suspected he was a fraud, not unlike the recent Archegos disaster--Bank of America and JPMorgan wisely didn't get too involved while Credit Suisse kept doing business with Bill Hwang despite obvious warning signs and is now a few billion in the red. Regular folks who bought DIscovery or Viacom stocks as part of their investment portfolio are fucked because the US doesn't regulate non-bank entities and still allows shady derivative transactions.

Do we know which window is hers, we can pick up a few dozen eggs on the way.

I saw a clip of her being interviewed about her “suicide” pact with Bernie. The interviewer poked holes in that story and she looked like a fool and a drama queen.

She does have decent personal style for an old Jewish lady from Queens.

Tasteful Friends - what do we think?

Ruth in 1980. Could have been Paltrow's sister.

All that money and they go for the same bland bullshit every time.

When the Rich go "broke." They tend to have benefactors just like former presidents and first ladies.

Or going from billionaire status to only having $25 million in the bank. Or downsizing from a 35K sq ft mansion to a 12K sq ft mansion. From flying privately to flying first class on commercial flights.

The wealthy don't go broke, they just become upper middle class. Everyone else is screwed.

4000 sq. ft. is not a mansion. That's only 1000 sq. ft. larger than my condominium.

Mother-in-law unit over the garage?

[quote]No one hates her, OP.

Oh, please. I guarantee the help or restaurants have left gifts in her food - and that was before her husband was exposed.

R59 Running the car in it with the door closed hoping she dies from the fumes?

So why was she entitled to 2 million (too lazy to google)

Just a single gal, driving a Subaru, living with a cat and writing poetry. My past doesn’t define me.

[quote]That's only 1000 sq. ft. larger than my condominium.

You don't live in Greenwich, CT though, do you?

She lives in Old Greenwich. And I wouldn't want to live there. Too fucking cold in the winter. And the people are snooty assholes.

Oh, that Ruth...

[quote]Bernie deposited his victims' "investments" in Chase Bank. But he never made any investments on their behalf. So Chase is holding some $2.6 billion in the account of an investment firm and they never inquired why it was never used to make investments?

[quote][R44] I didn't know that. So what was with all the tears from people about losing everything? If it was chillng n a Chas bak account then everyone was pretty much set.

All the investors, combined, thought they had $57 billion per the statements they received. $2.6 billion at Chase really wouldn't hep much.

[quote] Ruth, who dropped any claim to about $80 million in assets held by her and Bernie in exchange for $2.5 million in cash, moved there in 2012 ​to be closer to her grandchildren ​after briefly living in a condo in Boca Raton, Fla.

It's $2.5 million, according to the article at OP. Not $1.9 million.

I've seen her dent cans at the market.

[quote]It's $2.5 million, according to the article at OP. Not $1.9 million.

Minus a $600,000 payout in a court case makes it....ding...ding...ding..$1.9 million.

She and her husband had nearly $300 million to their name in cash assets and investments before the scam was exposed.

They were fine financially, I never understood why they ran a ponzi scheme when they were already set up for life.

I guess except for good ole Greed.

If I had hundreds of millions of dollars in the bank I'd be happy. All of my needs are more than met.

Because money drives some people insane. The more they get the more they want. It's like a gambling addiction or alcoholism.

Bernie was a hairy fucker @R55..

I wish I had that addiction, r72. Then I might be more financially successful in life.

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[quote] It’s just incredible to me that he promised a fixed return

He didn’t promise a fixed return. He didn’t promise a return at all, it’s just that his clients miraculously never had their accounts dip, regardless of the market influences, which would ordinarily raise a red flag with any savvy investor.

Well, was Bernie buried in the Jewish tradition? Did Miss Ruth attend? Is she sitting Shiva? Did Miss Ruth tear her clothes? How did she mark the passing of her husband and the father of her children? What foods are being served and what are people knoshing on?

So many questions!

R71 well he also employed his sons too. And supported their lavish lifestyles. Did they even work considering they apparently didn't know it was all fraud until the very end?

As far as I’m concerned, his sons were the only ones who did the right thing in this sordid mess.

When madoff confessed to them, he asked them to give him a week to get his affairs in order. He was probably going to flee, and he obviously had the resources to do it.

They assured him they would, but then properly went immediately and turned him in to the authorities.

R77 Are the mirrors covered? It would be a blessing if they are.

She should the right thing and off herself. She knew. They all knew.

[quote]Because money drives some people insane. The more they get the more they want. It's like a gambling addiction or alcoholism.

Joe Heller

True story, Word of Honor:

Joseph Heller, an important and funny writer

now dead,

and I were at a party given by a billionaire

on Shelter Island.

I said, “Joe, how does it make you feel

to know that our host only yesterday

may have made more money

than your novel ‘Catch-22’

has earned in its entire history?”

And Joe said, “I’ve got something he can never have.”

And I said, “What on earth could that be, Joe?”

And Joe said, “The knowledge that I’ve got enough.”

Not bad! Rest in peace!”

— Kurt Vonnegut

The New Yorker, May 16th, 2005

Oh, whoever wrote that doesn’t know the first thing about Kurt Vonnegut.

Love you, R83

R83, could you be more specific? Because it sounds like a rude thing to say to someone (even if true, and I doubt that it is).

Meanwhile, I took a course in playwrighting at the U of Pennsylvania with Joseph Heller. I had just read Catch-22 and I was astounded to discover that Heller was the most boring man I had ever met.

The class was unbearable. And then his play We Bombed In New Haven played out of town somewhere and was blasted by the Times, and Heller came into class completely destroyed and could not talk of anything else.

^^^ To clarify: I meant that Vonnegut's supposed comment to Heller sounded rude.

R85, it’s a line from a movie.

Specifically [italic]Back To School[/italic] with Rodney Dangerfield. He plays a rich guy who goes back to college and hires people to do his coursework for him.

On a biography of Vonnegut he hired Vonnegut himself. When he turned in the paper, the professor, Dr. Turner (hence the signature), saw through his charade and said, “Oh, whoever wrote that doesn’t know the first thing about Kurt Vonnegut,” which led to Dangerfield’s character stopping payment on Vonnegut’s check.

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I love R85's post because it's both interesting in itself (Heller did seem boring) and I think it's cute he didn't get that R83's post was a line was from a Dangerfield movie.

The Feds let her keep that purse??? THE NERVE!

So an old lady moved in with her former daughter-in-law's 4 bedroom house. BFD.

she has a top notch gardener too, fucking bitch.

GreenwichTime

Bernie Madoff's wife called Greenwich home for nearly a decade

Robert Marchant , Tara O’Neill

April 14, 2021

Updated: April 14, 2021 4:34 p.m.

GREENWICH — As news spread of Bernie Madoff’s death Wednesday, the apartment and condo-complex where his wife had lived for years in Old Greenwich was quiet.

Madoff was serving a 150-year prison term at the Federal Medical Center in Butner, N.C., for what was believed to be the biggest Ponzi scheme in the history of Wall Street when he died at the age of 82.

A woman now living in Ruth Madoff’s former unit at Old Greenwich Gables said she had moved and declined further comment on Wednesday morning.

Another neighbor said Madoff had moved from the residence in late 2019. The neighbor, who did not give her name, said Madoff had lived quietly and often walked with a group of friends in the area.

But it was modest compared to the lavish lifestyle she had shared with her husband. The Madoffs had a Manhattan apartment, an $11 million estate in Palm Beach, Fla., a $4 million home on the tip of Long Island, another home in the south of France, private jets and a yacht.

It all came crashing down in 2008, when Bernie Madoff’s investment advisory business was exposed as a Ponzi scheme, shocking his many investors. The scheme wiped out people’s fortunes, ruined charities and left Madoff so hated he wore a bulletproof vest to court for protection. After pleading guilty to securities fraud and other charges, he was sentenced in June 2009 for defrauding some $64.8 billion from thousands of investors.

In 2012, Ruth Madoff moved to Old Greenwich to live with her son Andrew on Tomac Avenue and be close to her three grandchildren, who lived nearby. Andrew Madoff died of cancer in 2014. Her other son, Mark, died by suicide in 2010.

Ruth Madoff, 79, kept a low profile around town, residents in the area told Greenwich Time back in 2017 following the debut of an HBO film centered on her husband’s crimes called “The Wizard of Lies.” She was played by Michelle Pfeiffer in the production. The film depicts her as unaware of her husband’s financial schemes: “All these questions ... I don't have any answers,” she exclaims at one point in the drama.

Back in Old Greenwich, Ruth Madoff was known to frequent Sound Beach Avenue for a bagel most mornings, running errands in her Toyota Prius.

“If you didn’t know who she was, you wouldn’t think she was anyone. She tries not to stand out,” Cliff Ng, who runs a dry cleaning business off Sound Beach Avenue, told Greenwich Time in 2017.

In a statement Ruth Madoff released during her husband’s legal proceedings, she said she had been unaware of his illicit dealings. But as part of her husband’s sentencing, the government stripped her of all but about $2 million of the $70 million that was in her name.

The condo complex in the west end of Greenwich where she lived is a comfortable and fairly affluent housing enclave, with attached units clad in brick and shingle. Condo units sell in the $500,000 range and up, according to records at Town Hall. Ruth Madoff was not the named owner of the unit where she had lived.

Ruth Madoff grew up in Queens, N.Y., and met her future husband at Far Rockaway High School.

Bernie Madoff’s lawyers tried to get a court to release their client last year during the ongoing global COVID-19 pandemic, citing Madoff’s end-stage renal disease and other chronic medical conditions. It was denied.

R71, Duper’s Delight.

Some people love to “get over”. It’s more fun to swindle $5 from someone than earn $8 honestly.

It’s why some people lie about the most insignificant things.

I mean, I suppose it’s a bit of greed (who doesn’t want more money?), but some people like that rush of getting away with something.

She may have some (hidden?) money but she lost her whole immediate family. Reduced to living out her final years on the kindness of extended relatives.

Do you think they all knew what The Bern was doing?

CBS Sunday Morning interviews Madoff biographer who got secret jail letters from Bernie and truly believes (is paid off) to say Ruth didn’t know ANYTHING, even what the term Ponzi scheme means!

R11 are his victims living hand to mouth?

The Feds have recovered 14.4 billion of the 17.5 billion that Bernie stole.

Ruth fingers her rancid cunt while thinking of screwing the little people out of their $$$ every night. She also dreams of killing babies.

Does her pussy stink?

Her pussy is exstinkt.

Geneen Roth Says Losing Her Life Savings to Bernie Madoff Was a Good Thing | SuperSoul Sunday

Apr 30, 2017

Geneen Roth is the author of ten books, including the just-released This Messy Magnificent Life and New York Times bestsellers When Food Is Love, Lost and Found, and Women Food and God, as well as The Craggy Hole in My Heart and the Cat Who Fixed It. Over the past thirty years, she has worked with thousands of people in her groundbreaking workshops and retreats and has appeared on numerous national shows, including The Oprah Winfrey Show, 20/20, the Today show, Good Morning America, and The View. She lives in California with charms of hummingbirds; her husband Matt; and Izzy the fabulous, eating-disordered dog.

BERNIE MADOFF'S LAVISH (YET EERIE) PENTHOUSE | Secret Lives Of The Super Rich

Jul 6, 2020

Don't forget the tasteful furnishings.

Or photos of the apartment from 1928.

Does she suffer from penury?

One of his daughters-in-law said she never saw Bernie read anything: book, mag, newspaper... Totally anti-intellectual. And he was very quiet.

#sheknew

#shescomplicit

The Montauk House

Palm Beach

Cap d'Antibes. There aren't really any proper photos of it online.