Ruth Madoff

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Ruth Madoff
Born Ruth Alpern
(1941-05-18) 18 May 1941 (age 73)
Queens, New York, U.S.
Nationality American
Alma mater New York University
Queens College
Years active 1960–present
Spouse(s) Bernard Madoff (m. 1959)
Children Mark Madoff (1964–2010)
Andrew Madoff (1966-2014)

Ruth Madoff (née Alpern; born May 18, 1941) is the wife of Bernard Madoff, the convicted American financial fraudster. She was director of Bernard L. Madoff Investment Securities.[1]

Early life[edit]

Madoff was born in Queens, New York and raised in Laurelton, one of two daughters born to a practicing Jewish family. She is a 1958 graduate of Far Rockaway High School and a 1961 graduate of Queens College.[2][3] In 1992, Madoff graduated from New York University with a Master of Science degree in Nutrition.[4][5]

Personal life[edit]

On November 28, 1959, at age 18, she married Bernard Madoff,[6] whom she had met while attending Far Rockaway High School. She worked for some time as her husband's bookkeeper.[7]

Bernard and Ruth Madoff had two sons: Mark (March 11, 1964 - December 11, 2010),[8] a 1986 graduate of the University of Michigan, and Andrew (April 8, 1966 - September 3, 2014),[9] a 1988 graduate of University of Pennsylvania's Wharton Business School.[10][11]

On the morning of December 11, 2010 — exactly two years after his father's arrest — Mark was found dead in his New York City apartment. The city medical examiner ruled the cause of death as suicide by hanging.[12][13][14]

According to a March 13, 2009, filing by Madoff, he and his wife were worth up to $126 million, plus an estimated $700 million for the value of his business interest in Bernard L. Madoff Investment Securities LLC.[15] Other major assets included securities ($45 million), cash ($17 million), half-interest in BLM Air Charter ($12 million), a 2006 Leopard yacht ($7 million), jewelry ($2.6 million), Manhattan apartment ($7 million), Montauk home ($3 million), Palm Beach home ($11 million), Cap d' Antibes, France property ($1 million), and furniture, household goods, and art ($9.9 million).

A Vanity Fair article in 2009 stated that during the time when she was a bookkeeper, Ruth made an undisclosed US$2.5 million deal and that employees in the London office stated that "Ruthie runs the all books".[7] During a 2011 interview on CBS, Ruth stated that she and her husband had attempted suicide after his fraud was exposed, both taking "a bunch of pills" in a suicide pact on Christmas Eve 2008.[16]

Since her husband’s incarceration, most of the Madoff assets have been seized by the government, including the couple's Upper East Side penthouse in New York. She moved to one of her son Andrew's houses in Connecticut after spending two years living in Boca Raton, Florida with her sister, Joan Roman. Both of her sons have predeceased her: Mark by suicide in 2010, and Andrew from lymphoma in 2014.[17]

References[edit]

  1. ^ http://www.nytimes.com/2009/01/15/business/15cook.html?_r=0
  2. ^ http://www.bloomberg.com/apps/news?sid=aQv4Kmx.cs78&pid=newsarchive
  3. ^ "The Trials of Ruth Madoff", people.com, February 21, 2011; retrieved April 14, 2011.
  4. ^ http://www.nytimes.com/2009/01/15/business/15cook.html?_r=0
  5. ^ http://www.nytimes.com/2009/01/15/business/15ruth.html?pagewanted=all
  6. ^ "Have pity on Ruth Madoff". CNN. November 14, 2009; retrieved April 16, 2011.
  7. ^ a b Mark Seal. "Ruth's World". Vanity Fair. 
  8. ^ "A Charmed Life, a Tragic Death". People. January 10, 2011. Retrieved April 15, 2011. "Today would have been Mark's 47th birthday! I will never forget the kind and fun loving person he was. This will always be a difficult day of the year for me."
  9. ^ "The Tale of the Madoff Sons". New York Magazine. June 3, 2009; retrieved April 15, 2011.
  10. ^ "EXCERPT: Mark Madoff in 'The Madoff Chronicles'" MSNBC. December 12, 2010. Retrieved April 15, 2011.
  11. ^ "The Trials of Ruth Madoff", People, February 21, 2011; retrieved April 15, 2011.
  12. ^ "Officials: Bernie Madoff's Son Mark Madoff Found Dead Of Apparent Suicide In Soho Apartment". CBS.com; accessed September 3, 2014.
  13. ^ Martha Graybow and Daniel Trotta (December 11, 2010). "Madoff's son found dead in apparent suicide". Financial Post. Retrieved December 11, 2010. 
  14. ^ "Madoff son's suicide follows battle with trustee"
  15. ^ McCool, Grant (March 13, 2009). "Madoff to appeal bail, net worth revealed". Reuters. Retrieved March 13, 2009. 
  16. ^ "Fraudster Bernard Madoff and wife 'attempted suicide'". October 26, 2011. Retrieved October 27, 2011. 
  17. ^ Dan Mangan and Laurel Babcock (March 14, 2012). "Ruth Madoff's Trashy New Life". New York Post.