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Were Madoff’s Sons Involved In Scheme?


mad.jpgThe sons of investment schemer Bernie Madoff have not spoken to their father since he confessed his crimes.

Now reporters are asking how much did the Madoff sons know? And when did they know it?

Bernie Madoff has not heard from his two sons since the night before he surrendered, when he reportedly confessed to his sons about his vast $65 billion Ponzi scheme. The meeting took place in Madoff’s East Side duplex on Dec. 10.

“They’re distraught. They haven’t spoken to their parents. They’re withdrawn and facing public ridicule,” said former CBS 2 HD correspondent Andrew Kirtzman.

Kirtzman is writing a book on the scandal. And Vanity Fair, in its upcoming July issue, says when the sons learned the news, 42-year-old Andrew sobbed on the floor, while Mark got angry.

“There’s no concrete evidence that Andy and Mark were in the scam,” Kirtzman said. “On the other hand, the two were inseparable from their father.”

Bernie Madoff, who pleaded guilty in March, faces 150 years in prison when he is sentence later this month. His wife, Ruth, has not been charged. The two sons, who both worked for Madoff Securities, earned as much as $5 million a year. Yet reports say they were not allowed on the firm’s 17th floor, where the fraud was managed. What did they know? Even former co-workers can’t agree.

“From my research, the traders at that firm are kind of split as to whether Andy and Mark knew about this thing. Some think they did know. Some think they couldn’t have known,” Kirtzman said.

Whether the two sons were involved or not, they could lose it all if the bankruptcy court determined the earnings the two received were stolen.

The Vanity Fair article also says when Andrew Madoff’s estranged wife orders groceries to be delivered she uses her maiden name.

(Source: WCBSTV)



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