Superannuation

The loneliest woman in America


Jarrod Sierocki

Five former employees of imprisoned financier Bernard Madoff were convicted of conspiracy to cap a six-month trial in which they were accused of enriching themselves while telling an elaborate web of lies. Former SEC attorney Bradley Bondi joins the News Hub.

Ruth Madoff’s husband Bernie Madoff was jailed for a scam which rocked the financial world. Picture: Elder Ordonez/Instar Images

EVERY morning, the petite blonde with the bright red lipstick walks the few blocks from her nondescript apartment to the Upper Crust Bagel Company, in Old Greenwich, a picturesque town in Connecticut of 6600 people.

Just about everyone who lives here knows it’s Ruth Madoff in exile, and they mostly leave her alone.

They know the broad outlines of her fall — how her privileged world exploded in December 2008 when her husband, Bernie, confessed to the biggest Ponzi scheme in history, an $US18 billion ($24.4 billion) fraud for which he is serving a 150-year sentence.

Ruth lost everything — her money…

Read the full article at: http://www.news.com.au/finance/superannuation/the-sad-new-life-of-exiled-ruth-madoff/news-story/d1c0da0592c641b4b80b62ac93fd3742

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