Bernie Madoff – The Confession that Shattered his Family (WATCH)!
Three years ago, Bernie Madoff confessed to running one of the biggest ponzi schemes ever in a confession that would shatter his family and end up taking the life of his son, Mark.
His other son, Andrew, explained the moment that Madoff confessed to family in an interview with 60 Minutes which aired last night:
“He said, ‘Everything I’ve been doing is all a big lie,’” Andrew said. “He said, ‘The business is a Ponzi scheme and the firm is completely insolvent. And I’m broke. And then he just started sobbing. And I was shocked … I don’t think if he had told me he was an alien I could’ve been more surprised.”
His wife Ruth also sat down with 60 Minutes reporter Morley safer and she described the night her husband revealed their entire lives had been a lie:
“He called from the office and said, ‘I’m coming home with the boys, I have something to talk about,’” Ruth remembered. “Came in, we went into a room, four of us, and he said, ‘I have a confession to make. I’ve been running a Ponzi scheme … $50 billion dollars.’”
Two years after his arrest, Bernie’s son Mark committed suicide with his 2-year-old son in the next room. Ruth said she felt some responsibility for his suicide because she continued to speak to Bernie despite Mark’s wishes.
The entire family has been living with the consequences of Madoff’s choices since his arrest in 2008.
Bernie was convicted of eleven felonies and is in jail serving a 150-year sentence.
Check out the highlights from the 60 Minutes interview below: