web analytics
August 30, 2015 / 15 Elul, 5775
At a Glance
News & Views
Sponsored Post


Madoff Says His Scheme Was Not Betrayal of Jews

By:
Beranrd Madoff is bringing the federal prison system five new residents.

Beranrd Madoff is bringing the federal prison system five new residents.
Photo Credit: US Dept. of Justice

Ponzi schemer Bernie Madoff said in a prison interview that he does not feel he “betrayed the Jews.”

Madoff, 70, is serving a 150-year sentence at the medium-security federal prison in Butner, N.C., for a scheme believed to be the largest of its kind in U.S. history — one that affected a disproportionate number of Jewish individuals and organizations.

“Religion had nothing to do with it,” Madoff told Politico in an interview published Thursday.

“I don’t feel that I betrayed the Jews, I betrayed people. I betrayed people that put trust in me — certainly the Jewish community. I’ve made more money for Jewish people and charities than I’ve lost.”

Madoff told Politico that he attempted to recover money for his victims, and it has largely gone unacknowledged.

He said the information he shared with Irving Picard, the trustee charged with overseeing the recovery and distribution of money lost in the Ponzi scheme, has been critical to Picard’s ability to collect the money.

“Everybody thinks the worst of me,” Madoff said. “The only thing I’m happy about is I was able to help people recover.”

The investment advice he offers is not to invest in the stock market.

Madoff, who sees a prison psychiatrist once a week, said he has “nothing to repent for. I already knew what I did was wrong.”

He also said, “I don’t believe I’m a bad person.”

Madoff said the loss of his family, who have had nearly nothing to do with him since the scheme became public, is “more punishment than being incarcerated.” His son Mark committed suicide in December 2010 at 46.

He said he suffers from kidney disease and not cancer, as has been reported, and takes about 14 medications, which he did not do before entering prison. Madoff had a heart attack over the winter; and a stent was inserted to open a blocked artery.

About the Author:


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

9 Responses to “Madoff Says His Scheme Was Not Betrayal of Jews”

  1. Richard Fox says:

    his scheme was the modern day “what makes sammy run” writ large. a man obsessed with money, other people’s money and how to get it out of their pocket and into his. he used a modern platform clever enough to manipulate the most “sophisticated” fat cat. fat cats who were only too happy to accumulate obscene profits without ever asking the obvious one word question of “HOW”? or its corollary question, “WHY”? they never thought it strange. they and their faux sophistication was the perfect foil for the money mad bernie and his criminal enterprise.

  2. Richard Fox says:

    his scheme was the modern day “what makes sammy run” writ large. a man obsessed with money, other people’s money and how to get it out of their pocket and into his. he used a modern platform clever enough to manipulate the most “sophisticated” fat cat. fat cats who were only too happy to accumulate obscene profits without ever asking the obvious one word question of “HOW”? or its corollary question, “WHY”? they never thought it strange. they and their faux sophistication was the perfect foil for the money mad bernie and his criminal enterprise.

  3. I think the Jews he betrayed will disagree.

  4. I think the Jews he betrayed will disagree.

  5. Honesty
    You Made Off With The Cash
    Stop Playing

  6. Honesty
    You Made Off With The Cash
    Stop Playing

  7. The UN is an even bigger Ponzi scheme.

  8. he obviously knew how to appeal to their greed!!

  9. Some one has to do something regarding these Muslims.

Comments are closed.

Current Top Story
Rabbi Norman Lamm of Yeshiva University
Emes Ve-Emunah: Living Up to the Ideals of Modern Orthodoxy
Latest News Stories

The car headed towards a group of four soldiers in Hebron, striking one.

Prince Albert II of Monaco

The ruler of the Principality of Monaco, Prince Albert II, on Thursday issued a formal apology for his country’s role in deporting Jews to Nazi death camps during World War II.

Obama and Jewish Organization Leaders

Speaking to Jewish leaders and the American Jewish community on Friday afternoon, President Barack Obama said he’s had arguments with the Israeli leadership because he considers them his friends.

Hillary Rodham Clinton.

She denies that her criticism of Republicans wanting to put immigrants in “boxcars” was a reference to the Holocaust.

Iranian President Rouhani said Saturday the parliament should not vote on the nuclear deal so that it will not become a legal obligation.

The airport workers; committees new excuse to shut down the airport is to hold a solidarity strike with the Israel Broadcasting Authority.

The daily also accuses the US of being the “biggest settlement country” that “enslaves millions of Hispanics.”

Swiss Ambassador Portrays U.S. and Iran as doves of peace defecating on Netanyahu.

He will arrive Sunday and will be “updated on strategic issues,” meaning Iran.

The boundary, enabling Jewish students to carry on Shabbat, will be made of plastic “lechies” on utility poles.

The café opened in 1939 and was closed n 1949.

A growing number of Arabs in Gaza are calling on people to burn down Hamas institutions.

An Oxford University professor’s new book uncovers what most Israelis know – that the Americans are not “Wild West” cowboys.

A report by the entity responsible for ensuring the peaceful development of nuclear energy worldwide and the one upon which the world depends for monitoring Iran’s nuclear activity revealed that over the past few months Iran has been working on and adding to a building at its Parchin site. Parchin is an Iranian military complex located southeast of Tehran. It […]

Israeli artists build an ice wall at the Davidson Center, near the Kotel in Jerusalem. The wall was based on a piece by American artist Allan Kaprow who built something similar in Israel, in 1980, perpendicular to the Temple Mount. Photos by Yonatan Sindel / Flash90.

About 30 protesters from the Jewish Defense League on Wednesday evening stood at a picket line holding Israeli and Canadian flags outside billionaire Bernard (Barry) Sherman’s north Toronto home during his cocktail fundraiser for the Liberal party.

More Articles from JTA

More than 20 cars and buildings in a Jewish community in north London were vandalized with swastikas. The Nazi symbol was drawn on approximately 27 cars in the Osbaldeston Road area of Stoke Newington on Sunday night, The Daily Mail reported. An unnamed 32-year-old man was arrested in connection with the vandalism Tuesday. The neighborhood […]

New York State Assemblyman Dov Hikind called on the Jewish community to attend the funeral of an assassinated New York police officer. “The brave men and women of the NYPD risk their lives every day to protect us. We value them and stand with them,” Hikind, a Democrat who represents Brooklyn, said in a statement […]

“Move Jew” scrawled on a Philadelphia home and slurs written on a synagogue and 10 garages in Chicago.

The Nazis nearly destroyed the 17th synagogue.

Cuba has “the largest pool of untapped baseball talent in the world, and Major League Baseball may tap and leave Cuba dry.

Argentina’s president Christina Fernandez has accepted an official Jewish godson for the first time in the country’s history to help counter legend of death to a seventh son. She described in seven tweets her meeting with her new godson, Yair Tawil, a member of a Chabad-Lubavitch family. He was adopted as a godson under a […]

A fundraising campaign started quietly by two first graders two years ago to help find a cure for a rare genetic disease just passed the $1 million mark.

Printed from: http://www.jewishpress.com/news/breaking-news/madoff-says-his-scheme-was-not-betrayal-of-jews/2014/03/20/

Scan this QR code to visit this page online: