Madoff sons have not spoken to parents: report

Other News Materials 3 June 2009 09:50 (UTC +04:00)

The sons of confessed thief Bernard Madoff have not spoken to him or their mother since he told them in December he had orchestrated a massive Ponzi scheme at the family-run firm, Vanity Fair magazine reported.

The report in the July issue quotes the sons' friends, surrogates and former colleagues as saying Mark Madoff, 45, was angry and Andrew Madoff, 43, sobbed on the kitchen floor of their parent's penthouse apartment when Madoff revealed his scam, Reuters reported.

The next day, December 11, Madoff was arrested by the FBI and three months later he pleaded guilty to nearly a dozen criminal charges in Wall Street's biggest swindle, which totaled as much as $65 billion over 20 years.

Madoff's wife, Ruth, has visited him in jail but the sons have not.

Through intermediaries, the sons claim they knew nothing about their father's crimes, but there are doubters, the magazine reported in the article headlined, "Did the Sons Know?"

A lawyer for Mark and Andrew Madoff has said the sons were not involved in the asset management business at Bernard L. Madoff Investment Securities LLC and that "they were shocked to learn of his actions."

Madoff, 71, is expected to spend the rest of his life in prison for running a Ponzi scheme in which early investors are paid with the money of new clients. He is jailed in Manhattan awaiting sentencing on June 29.

Only Madoff and an outside accountant have been charged.

Mark Madoff scrutinizes every story and blog on the scandal, while Andrew appears to have detached himself emotionally from what he calls "a father-son betrayal of biblical proportions," the article said.