Bernie Madoff who was sentenced to 150 years in prison for the biggest swindle in Wall Street history, his wife Ruth, issued a written statement saying that she feels ” embarrassed and ashamed, betrayed and confused”.
Ruth Madoff went on to say in her statement that, her husband is responsible for a terrible situation and that the man who committed this fraud is not the man she knew.
She said, when I found out about this fraud, I knew that my live was over. According to Ruth Madoff, she says that she is “devastated” and knows she could never repair the damage that her husband caused.
Ruth Madoff said that “most of my husband’s investors were close friends and family”. And that ” My husband stunned us all with his confession”.
Madoff said that her failure to speak or issue any statement earlier was not because of “indifference” or “lack of sympathy”.
This is the first statement that Ruth Madoff has issued since her husband was charged with the massive $65 billion Ponzi scheme.
SEE FULL TEXT OF RUTH MADOFF’S STATEMENT BELOW:
“I am breaking my silence now, because my reluctance to speak has been interpreted as indifference or lack of sympathy for the victims of my husband Bernie’s crime, which is exactly the opposite of the truth.
From the moment I learned from my husband that he had committed an enormous fraud, I have had two thoughts – first, that so many people who trusted him would be ruined financially and emotionally, and second, that my life with the man I have known for over 50 years was over. Many of my husband’s investors were my close friends and family. And in the days since December, I have read, with immense pain, the wrenching stories of people whose life savings have evaporated because of his crime.
My husband was the one we (and I include myself) respected and trusted with our lives and our livelihoods, often for many, many years, and who was respected in the securities industry as well. Then there is the other man who stunned us all with his confession and is responsible for this terrible situation in which so many now find themselves. Lives have been upended and futures have been taken away. All those touched by this fraud feel betrayed; disbelieving the nightmare they woke to. I am embarrassed and ashamed. Like everyone else, I feel betrayed and confused. The man who committed this horrible fraud is not the man whom I have known for all these years. In the end, to say that I feel devastated for the many whom my husband has destroyed is truly inadequate. Nothing I can say seems sufficient regarding the daily suffering that all those innocent people are enduring because of my husband. But if it matters to them at all, please know that not a day goes by when I don’t ache over the stories that I have heard and read.”
