General Question

flo's avatar

Is it true that the ex-wife of one of the Madoffs can profit from a book about Madoff scandal?

Asked by flo (7527 points ) October 31st, 2011

If true, why is that? Couldn’t the spouse have been a participant in the crime? Could they not still be close enough even if they are divorced? I thought noone related to the perpertrator can benefit from the crime.

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23 Answers

lillycoyote's avatar

Only the perpetrator of the crime would be forbidden from profiting from the crime. You have a couple of “coulds” in your question, but as far as I know, there is no evidence that anyone related to Maddoff, neither his wife nor his children, was involved in Madoff’s crime. And, even if they were, it can’t be matter of mere speculation, or “could haves.” In order to prohibit someone from profiting from a crime they committed, they would have to have plead guilty to it or be tried and convicted of the crime in question.

flo's avatar

@lillycoyote I understand but I mean if someone stole food to feed his family, or something, that is different. It is ill gotten gains, they didn’t earn it, $50 billion, sounds like different to me. Should the money not just go directly to the people it came from anyway?
Should the family members not just earn their living on their own?

zenvelo's avatar

It’s his daughter-in-law, and while she is in he family, she was in no way responsible for Bernie’s crimes. Bernie used to show up at industry meetings I attended; we always knew his traders were crooks, just didn’t know about the ponzi scheme.

Anyway, the son returned to the Special Master all he’d received from his father over the years; he and his wife are living on what he earned.

So the son and the daughter-in-law can actually be considered additional or indirect victims since they were not complicit but still had to return what the father had given them out of the ill gotten gains.

lillycoyote's avatar

@flo Are you talking about this book?

flo's avatar

@zenvelo “she was in no way responsible for Bernie’s crimes.” How can anyone be that sure?

@lillycoyote No, I heard there will be a book out soon.

Did you all watch 60 minutes last night?

flo's avatar

If my relative of mine stole anything, without my knowledge, and people wrongly speculated about me, I still shouldn’t/(Added:wouldn’t want to) profit from the crime by writing a book.

marinelife's avatar

She hasn’t been charged with much less convicted of a crime.If you don’t want to give money to her, don’t buy the book.

TheIntern55's avatar

Yes, I watched 60 minutes. I don’t think she would have been involved. They investigated it all pretty clearly and any evidence they could’ve found against her they would have probably exposed already.
I agree with @marinelife: just don’t buy the book.

flo's avatar

@marinelife that goes without saying.

flo's avatar

@TheIntern55just don’t buy the book ” goes without saying. It is about the bigger picture.

lillycoyote's avatar

@flo No, I didn’t see 60 Minutes last night. I guess it was about this, right?

flo's avatar

@lillycoyote I haven’t watched 60 minutes yet, but it must be. The “Is it true?”, in my question was because I just heard about it. I wasn’t sure if it the ex-wife of the other son, etc. I was just addressing the bigger question, really, not so much about me thinking any one of them knew or collaborated with him. And to correct myself, yes, about your earlier post asking about the book.

flo's avatar

How do we know that the perpertrator wouldn’t indirectly benefit from the profit?

zenvelo's avatar

@flo Considering the perp was convicted and is in prison, he’snot going to profit. Chances are not much money will even be made off the book.

But I am a little surprised that your viewpoint that no one in the family can make money off of what they know in order to support themselves. They are not guilty of a crime.

flo's avatar

@zenvelo The prpertrator would be profiting anyway, because the memebers of his family don’t have to support themselves. The perp can get spoiled in prioson. She/he should get be treated the same as othere prisnors.

flo's avatar

Noone should benefit from the proceeds of a crime, right? And the family and friends should start supporting themselves just like any other person would.

JLeslie's avatar

On 60 Minutes I thought they stated all profits go to the DIL as @zenvelo said. The wife gets nothing from the book. The wife said she got around $2 million to keep and she agreed it was a lot of money and didn’t complaign. I liked her in the interview. The reporter asked her if their is any truth to the rumors of money being stashed, and she said she wish she knew where money was stashed so more money could be given back to those who lost money. She said that from what she understood, the problem with a Ponzi scheme is at the end there is no money left. Of course she could be lying about it all, but I think she was telling the truth. At one point she talked about how she understood the anguish her son who committed suicide was going through. The shame, they all talked about the shame. The brother who killed himself left a note stating no one will listen, no one will ever believe them.

My personal opinion is she does have the right to profit off a book if she wants to write one.

zenvelo's avatar

so @flo, you believe in guilt by association?

flo's avatar

@JLeslie re. “all profits go to the DIL” as @zenvelo said.” I tried to find it.
If they don’t benefit from the book, then that is different.

@zenvelo some people would want to be and some people wouldn’t.
she was in no way responsible for Bernie’s crimes.” You sound so sure.

As an aside, to say how many words does it take: “I didn’t in anyway help him commit the crime.”? I don’t think it takes a book.

JLeslie's avatar

@flo Here is some more info about the book, who profits, amd what people think about it. I agree with the assessment that itis obviously protecting assetts by giving the profits to the DIL. I do believe none of the money will likely go to Mrs. Bernie Madoff. She seemed fine with what she received, and I am sure, or I would guess, she worries more about her children and grandchildren not being damaged for the rest of their lives.

flo's avatar

@JLeslie what do you get when you click on the link?

JLeslie's avatar

Oh, the link is not working. It was a story about who gets the money and that it is a way to hold onto assets/money as I stated, in case there is further action I guess.

flo's avatar

@JLeslie tell me what happens if you search within the site. I tried, it still gives me the same answer “Sorry, but we could not find the information you were requesting.”
Here is an alternative.

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