Joe Nocero
AP
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Bernie Madoff is dead, and it is unlikely that even the people who once were closest to him will shed a tear. Not his wife, Ruth, whose life was destroyed when Madoff’s Ponzi scheme was revealed in December 2008. Not his brother, Peter, Madoff’s former chief compliance officer, who spent nearly a decade in prison after pleading guilty to a variety of charges. Not his niece Shana, Peter Madoff’s daughter, who also worked in the compliance department. And certainly not his daughters-in-law or his grandchildren; both his sons died after he went to prison, one from suicide and the other from cancer.
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US ponzi fraudster Bernie Madoff left behind only misery and heartache
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Madoff’s arrest and the lesson behind his fall
12 hours ago
The Independent
What is there to say over the corpse of Bernie Madoff, maybe the least-mourned man this side of serial killers?
Well, he died alone, which he deserved, as harsh as it is to say on this, the day of his death. His son killed himself in 2010, two years after Madoff’s arrest, and his other son died of a cancer whose return he blamed on the stress from the scandal of Dad’s firm being revealed as Wall Street’s biggest fraud ever. His brother went to prison for his contributions to the scheme federal securities regulators uncovered amid the larger financial meltdown of 2008, an old-fashioned Ponzi setup in which new investors’ money was used to pay off any prior investors who wanted out, while both groups were given fake documents showing that everyone Madoff dealt with was getting rich. It fell apart when the mortgage crisis dried up the new money, and caused a $12 billion spike in reques