Apr 15, 2021
Bernie Madoff’s death in prison Wednesday doesn’t change much for his victims, many of whom are still waiting to be made whole on their share of $20 billion that vanished with the con man’s 2008 arrest.
The recovery effort, still under way in court more than a decade later, has been remarkably successful at recouping the lost principal, under the circumstances. But that’s little comfort to investors who lost their life savings or otherwise had their lives turned upside down. And none of them will ever see a cent of the $45 billion in fake trading profits Madoff assured them was safely tucked away in their accounts for retirement.
Where Is Bernie Madoff s Wife Now? Ruth Madoff Lived In Rental After Husband s Downfall
KEY POINTS
The $3.8 million waterfront mansion is owned by Ruth s former daughter-in-law
She was never charged in her husband s scheme, and never divorced him
Ruth Madoff, wife of the late Ponzi scheme mastermind Bernie Madoff, is living in a $3.8 million, four-bedroom waterfront mansion in Connecticut with a former daughter-in-law’s family, according to a report.
The ritzy residence, located on Lucas Point, was built in 2005. It features roughly 4,000 feet of living space, a double-height entry gallery, two fireplaces and a private dock, according to Zillow.
The home is owned by 56-year-old Susan Elkin, the first wife of Ruth and Bernie’s eldest son, Mark, who hung himself in 2010 following the revelation of the Ponzi scheme.