Madoff with the Money (42 page)
Read Madoff with the Money Online
Authors: Jerry Oppenheimer
Source: University of Alabama Corolla yearbook.
A far different Bernie as he poses emotionless for his U.S. Justice Department mug shot after he admitted in December 2008 that he was running history's most massive fraud, bilking thousands out of billions of dollars.
Source: U.S. Dept. of Justice.
Bernie and Ruth socialized in chic places from Palm Beach to the French Riviera where investorsâwealthy and middle class alike, thousands of themâinvested in Bernard L. Madoff Investment Securities and were taken to the cleaners by the con man.
The couple is shown here at the September 2007 wedding of niece Shana Madoff to Eric Swanson at the Bowery Hotel in New York.
Source: Rex USA.
Bernie and the former Ruth Alpern became an item in high school, married young, and were considered a team for half a century. But after Bernie was sentenced to spend the rest of his life in prison, she distanced herself from him, and reportedly reverted to her maiden name.
Source: Rex USA, May 2008.
Peter Madoff, Bernie's younger brother, was his second in command, and was considered brighter than his sibling but was dominated by him because it was Bernie's name on the door of the firm. As former Chief Compliance Officer of Bernard Madoff Investment Securities LCC, he is shown here arriving at Mineola State Supreme Court, April 3, 2009, in New York.
Source: AP Photo/Louis Lanzano.
Peter's daughter, Shana, in charge of compliance at Madoff, with her second husband, Eric Swanson, a former SEC official. Their nuptials sparked federal prosecutors' interest. Bernie once said his niece had married “the enemy.”
Bernie's Ponzi scheme was named after Charles Ponzi, an arrogant, dapper con artist for whom the fraudâusing later investors to pay early investorsâwas named.
Source: Bettmann/Corbis.
Ponzi centralâthe high-tech Lipstick Building in Manhattan where Bernie had his firm's offices on the 17th, 18th and 19th floors. On 17 was where he ran his secret investment advisory business, and from where bogus statements were sent to bilked clients.
Source: AP Photo/Diane Bondareff.
The posh Upper East Side Manhattan co-op building where Bernie and Ruth lived in royal splendor in their $7.5 million duplex penthouse. For a time Bernie was under house-arrest there, infuriating investors who had lost everything. The Madoff apartment was later ordered sold along with other assets.
Source: AP Photo/Brian McDermott. Photo taken in December 2008.
Madoff was a great place to work until the roof caved in. Every summer the firm's employees were invited to the firm's summer bash at Montauk, in the chic Hamptons, where Bernie and Ruth's fabulous ocean-front house was located.
Source: AP Photo/John Dunn.
Among the luxuries owned by the one-time poor boy from Queens were several boats and yachts, all with the name âBull.' Like the Madoff penthouse, the boats also were seized and ordered sold.
Source: AP Photo/Lionel Cironneau.
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