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Forbes Daily Briefing

The Sins Of Ruth Madoff

Forbes Daily Briefing

Forbes

Careers, Business, News, Entrepreneurship

4.612 Ratings

🗓️ 9 July 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

In an exclusive excerpt from Madoff: The Final Word, the Ponzi king’s wife is portrayed as a liar. Trained as a bookkeeper, she regularly reconciled the account that housed the $68 billion fraud for decades.

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Transcript

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0:00.0

Here's your Forbes Daily Briefing for Tuesday, July 9th.

0:05.0

Today on Forbes, The Sins of Ruth Madoff.

0:10.0

In an exclusive excerpt from a new book by Forbes contributing editor of investigations, Richard

0:14.8

Behar, about Bernie Madoff, called Madoff the final word, the Ponzi King's wife, Ruth, is portrayed as a liar.

0:24.0

Trained as a bookkeeper, she regularly reconciled the account that housed the

0:28.0

the 68 billion dollar fraud for decades.

0:32.0

The following is an excerpt lightly edited for clarity from the book,

0:36.0

which is out today Tuesday July 9th published by avid reader press Simon and Schuster.

0:42.0

Ruth Ruthy Books Made Off Simon and Schuster.

0:45.0

Ruthie Books Madoff. That's the nickname FBI Agents privately gave to Bernie Madoff's wife of nearly 62 years.

0:51.0

And it's a fitting one.

0:52.0

Given that she lied like a mobster on the witness stand

0:55.2

when she appeared on 60 minutes, one of the rare interviews she granted since her

0:59.8

husband's arrest in 2008. On the show, which aired in 2011, she told Morley Safer that

1:06.8

she had worked as a receptionist and bookkeeper at Bernard L. Made Off

1:10.2

Investment Securities, also known as BLMIS, from 1961 to 1963, but then left to raise

1:18.0

their sons.

1:19.6

She added, quote, and later on, when the boys started to work there, we lived within walking distance,

1:25.3

and I had an office there where I took care of decorating things and house things and boat bills

1:29.8

and managing those things.

1:31.6

But I was never the bookkeeper after 1963.

1:36.0

As with every Ponzi scheme, Bernie Madoff lured in new money by pointing to the mammoth gains

...

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