Boca Raton - Bernie Madoff's Wife Seeking Redemption Through Charity Work in Florida |
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Boca Raton - She’s hasn’t donned sackcloth and ashes, but Ruth Madoff is trying to repent.
Like the biblical Ruth, the disgraced wife of jailed Ponzi schemer Bernie Madoff is depending on relatives for sustenance, and searching for redemption by volunteering for charity work.
The formerly monied Manhattan matron has fled to south Florida, where she bunks with relatives and apparently does God’s work, delivering meals to the homebound, The Post has learned.
The former billionaire’s wife has been reduced to driving around in a 14-year-old clunker, with a parking placard in the back seat that reads, “homebound delivery volunteer driver.”
She registered the 1996 Infiniti she bought in January for a “few thousand” to sister Joan Roman’s Boca Raton address in a middle-class condo complex.
The units there, which go for a measly $300,000, are painted a tacky Florida orange and are hidden behind security gates..
She regularly pops up at her sister’s home. But when she wants a taste of the high life she once enjoyed, the well-preserved 67-year-old mooches at brother-in-law Peter Madoff’s $4.5 million Palm Beach mansion.
The sprawling two-story waterfront home features polished stone floors and antique furnishings visible through eight-foot windows.
Neighbors around the manse—where the local postman says he delivers Ruth’s mail—claim she lives there, and report seeing a woman in dark sunglasses they believe to be Ruth strolling to the nearby beach.
“She doesn’t own a home, friends and relatives have been kind enough to give her places to stay,” her lawyer, Peter Chavkin, told The Post.
Madoff, who now often uses her maiden name Alpern, has been spurned by numerous New York co-op boards and landlords, who refused to sell or rent to her after she was booted by federal authorities from her luxury Upper East Side condo.
The former society queen’s luxury life went up in flames when her husband was convicted of bilking $65 billion from thousands of clients—an elaborate scam that funded the Madoff family’s high-flying lifestyle for decades.
Bernie Madoff, sentenced to 150 years in prison in June 2009, saw his family’s assets frozen, and his many multimillion-dollar properties and luxury possessions auctioned off. The family lost its Upper East Side condo, worth $7.5 million, a landscaped Montauk “cottage” on Long Island, and their own Palm Beach estate.
Ruth and Bernie’s personal items were sold by federal authorities at an auction that fetched about $1 million—which went into a fund for the mega-crook’s victims.
Authorities allowed Ruth to keep $2.5 million—a princely sum for most, but once pocket change for her.
She lives without frills, says an acquaintance, but she’s still got enough cash to finance a work-free snowbird lifestyle—she travels between Manhattan and Florida regularly, with frequent pit stops in North Carolina to visit her jailbird hubby.
There’s a cap on how much she can spend on herself: Ruth has to keep receipts for every personal expense, and submit monthly reports for any purchase over $100 to a bankruptcy judge.
During one of her prison visits, Ruth told her husband she was going to do charity work and try to start a new life, inmates at the medium-security prison in Butner, NC, told The Post last month.
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Read Comments (15) — Post Yours »
1
Jul 18, 2010 at 03:53 PM Anonymous Says:Report as Inappropriate
nebach
2
Jul 18, 2010 at 04:17 PM She Knew About Says:Report as Inappropriate
Nebach on the people and charities that were decieved.
3
Jul 18, 2010 at 04:19 PM anonymous Says:Report as Inappropriate
do we need to read this on erev tish'a b'av.
why can't we just leave her alone. at best, she's yesterday's news.
and if she's doing chesed work, kol hakavod.
4
Jul 18, 2010 at 04:25 PM Anonymous Says:Report as Inappropriate
Wouldn't it be ironic if some of the homebound she delivers to, turn out to be some of the victims of the scam! If the people she delivered to knew who she was, some would probably throw the food back at her.
And why does she get to keep $2.5 million? I'm sure some of their elderly victims who worked hard for their lost money and are now too old to make anything back, could use $2.5 million.
5
Jul 18, 2010 at 04:27 PM the chacham Says:Report as Inappropriate
נזם זהב באף חזיר
if you have dignity, stay away from Ganovim
6
Jul 18, 2010 at 05:09 PM Anonymous Says:Report as Inappropriate
once a agnev always a genv. The only reason why some people have regret is because they are caught by the police. People who deserve mercy are people who decide to change their ways before they get caught and before people know fo their crimes.
It's really easy to look like a saint once your caught.
7
Jul 18, 2010 at 05:34 PM Anonymous Says:Report as Inappropriate
not sure why the didnt stash away a few mil in some way out desert somewhere just to be sure she always has what to eat....... anyway i dont care!
8
Jul 18, 2010 at 07:01 PM Anonymous Says:Report as Inappropriate
“ nebach ”
Nebach on whom? on Her?!! are you kidding?!! She seemingly had a good life and she probably knew what was going on, and she still got to keep 2.5 million dollars, an amount she can retire on and live very comfortably for the rest of her life, give me a break! the feds gave let her keep the money because it was part of the deal with Bernie so they wouldnt have to risk going to trial and spending time and money on it. Anyhow, east fast everyone!
9
Jul 18, 2010 at 07:58 PM Anonymous Says:Report as Inappropriate
I would hyde my valuables .
10
Jul 18, 2010 at 08:05 PM Anonymous Says:Report as Inappropriate
I remember reading that she had personal wealth independantly of her husband which is why she was allowed to keep it. You also have to remember that her husband was well to do before he started the scam.
11
Jul 18, 2010 at 08:22 PM Anonymous Says:Report as Inappropriate
she received 2.5 million and she's staying by relatives? she doesn't have a home of her OWN? this makes no sense.
12
Jul 18, 2010 at 10:33 PM Anonymous Says:Report as Inappropriate
part of the Grand design .
13
Jul 18, 2010 at 11:34 PM Eliezer Says:Report as Inappropriate
“ once a agnev always a genv. The only reason why some people have regret is because they are caught by the police. People who deserve mercy are people who decide to change their ways before they get caught and before people know fo their crimes.
It's really easy to look like a saint once your caught. ”
What would you have her do? I mean she can't live in Manhattan, can't get a "real" job, has to report her spending to a bankruptcy judge and is trying to live a life out of the spotlight and media glare.
Yes, she probably knew what was going on to some extent but as you say, she's been caught, is not in jail and is trying to live what is left of her life the best she can.
Leave her alone!
14
Jul 19, 2010 at 12:18 AM Dovid Says:Report as Inappropriate
Utshuva utfila utzedaka mavirin es roa hagezera.
She's doing at least 2 of the 3. This is exactly what we should want for her to be doing. This is very good.
15
Jul 19, 2010 at 02:03 PM Anonymous Says:Report as Inappropriate
She belongs in prison. She is as guilty as he is.