Madoff's Wife Moves To Connecticut

Mar 16 2012 | 7:57am ET

Ruth Madoff has ended her exile from the New York area, more than three years after her husband was arrested for running the largest Ponzi scheme in history.

Madoff, who has spent the last few years living in borrowed quarters in Boca Raton, Fla., has traded in those borrowed digs for a new one, in hedge fund hotspot Greenwich, Conn. The Old Greenwich house is owned by her son, Andrew.

"I've moved back to the New York area for one reason: to spend time with my family, particularly Andy and my grandchildren, whom I love dearly," Madoff told the New York Daily News. "This has been a healing period for me."

Prior to her husband's arrest and conviction, the Madoffs lived in a Manhattan penthouse and had homes in the Hamptons and in Palm Beach, Fla. All of those residences—and most of her other assets—were sold off to help repay her husband's victims.

She can't quite escape the glare of her husband's crime, however: The New York Post managed to snap a photo of her hauling in her trash can at her new digs.

Ruth Madoff has not spoken to her husband in more than six months. Bernard Madoff is serving a 150-year prison sentence at a federal facility in North Carolina.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of