RadioBDC Logo
Blue Christmas | Bright Eyes Listen Live
THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING

Madoff's wife: We tried suicide after Ponzi arrest

October 26, 2011

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

Your article has been sent.

Text size +

NEW YORK—The wife of disgraced Wall Street financier Bernard Madoff says the couple tried to kill themselves after he admitted to his loved ones that he'd stolen billions of dollars in the largest Ponzi scheme in history.

Ruth Madoff, who'll appear on Sunday's episode of CBS' "60 Minutes" in her first interview since her husband's December 2008 arrest, says they had been receiving hate mail and "terrible phone calls" and were distraught.

"I don't know whose idea it was, but we decided to kill ourselves because it was so horrendous what was happening," she says in the interview, according to excerpts released by CBS.

She says it was Christmas Eve, which added to their depression, and she decided: "I just can't go on anymore."

She says the couple took "a bunch of pills" including the insomnia prescription medication Ambien, but they both woke up the next day. She says the decision was "very impulsive" and she's glad they didn't die.

The couple's son Andrew Madoff also will talk about his experience.

Another son, Mark Madoff, hanged himself by a dog leash last year on the anniversary of his father's arrest. Like his parents, he had swallowed a batch of sleeping pills in a failed suicide attempt 14 months earlier, according to his widow's new book, "The End of Normal: A Wife's Anguish, A Widow's New Life."

Bernie Madoff was arrested on Dec. 11, 2008, the morning after his sons notified authorities through an attorney that he had confessed to them that his investment business was a multibillion-dollar Ponzi scheme. He admitted cheating thousands of investors. He pleaded guilty to fraud charges and is serving a 150-year prison sentence in Butner, N.C.

Madoff, who's in his 70s, ran his scheme for at least two decades, using his investment advisory service to cheat individuals, charities, celebrities and institutional investors.

An investigation found Madoff never made any investments, instead using the money from new investors to pay returns to existing clients -- and to finance a lavish lifestyle for his family. Losses have been estimated at around $20 billion, making it the biggest investment fraud in U.S. history.

------

Online: