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The subsequent script is from "Madoff" that aired about October 30, 2011. Morley Safer will end up being the correspondent. Deirdre Naphin Curran, producer.

Madoff...It is really a title that may are now living in infamy...It's been almost three a lengthy time since Bernard Madoff confessed to be able to managing a $65 billion Ponzi scheme - the actual largest economic fraud throughout history. thousands involving trusting clients whom felt safe investing with a economic genius had been swindled. He hadn't invested any penny.

While Madoff is serving 150 a long time inside prison, his family members offers needed to offer with the consequences regarding his crimes. His wife Ruth, divested regarding nearly almost all of the girl fantastic wealth - and derided by a suspicious world. His Or Her son Mark - dead. Driven to suicide through shame and accusations of guilt. Their Own other son Andrew isolated - wanting to reside with just about all the disgrace.

Are that they innocent or perhaps were these people willing partners? for the first moment since Bernie Madoff's arrest, his son Andrew along with wife Ruth converse out regarding crime, punishment and the shame of being the Madoff.

Morley Safer: It's a tough name to reside with.

Ruth Madoff: That certain is.

Ruth Madoff...

Safer: Does one glance in the shame?

Ruth: Of course I have the shame. I could barely walk down the trail without having worrying about folks recognizing me.

And Andrew Madoff...

Andrew Madoff: Via the actual extremely starting of this entire episode-- I've had absolutely not even attempt to hide. Along With I've been eager, I would say practically desperate to speak out publicly and tell folks which I'm absolutely not necessarily involved.

Andrew and also Ruth Madoff speak out within the guide "Truth along with Consequences"- an even more or less tell-all arranged through Andrew's fiancee Catherine Hooper. An attempt to separate the family from the father's crimes.

Safer: is it dismaying for you personally that will no make the difference what a person say individuals aren't likely to believe you?

Catherine Hooper: I consider in many different ways it's dismaying, however public opinion has being something that is irrelevant for you to us. Just what matters in order to us will be the truth.

Safer: It's very difficult pertaining to people to believe that a person simply didn't know, which you must have known.

Ruth: I can't explain it. I suggest I reliable him. The reason why would it ever occur to me which it wasn't legal? the company was--his reputation was nearly legendary. Why would I ever believe that there was one thing sinister heading on?

It ended up being 1954 when Ruth Alpern achieved Bernie Madoff within Queens, N.Y.

Ruth: I just saw him along with I has been sort of swept away, I think.

She married him at age group 18. They Will had 2 sons - Mark, then Andrew. Bernie has been constructing up his funds management business - a normal center class family members living upon long Island.

Ruth: We had been each solid mother and also father and valued us and thus proud of our boys. The idea was obviously a dream, really.

Andrew: My father had been certainly current as a dad.

Safer: Would he emphasize moral values at all?

Andrew: I wouldn't state that we sort of explicitly discussed values. Yet we certainly lived what I felt was obviously a moral life, where there has been clearly a definite sense of correct and also wrong.

Exactly when Bernie Madoff went incorrect will be unclear. However as his track record of delivering steady profits grew, the particular Madoffs began living the nice life. Any penthouse inside Manhattan - homes throughout Palm Beach and in addition the South associated with France - and also yachts within both places. the family members became celebrated pertaining to philanthropy as well as Madoff became a Wall Street big shot.

Andrew: He had been a large figure within the industry. He was your chairman regarding Nasdaq. He was constantly being honored as "Man of the Year" of this organization along with that. And Also that-- which inside fact had an-- an effect about me.

Both sons went alongside to function as traders with regard to their father's firm inside the late 80s - an occasion authorities think Madoff's Ponzi scheme was well under way.

Safer: Precisely why would your own father want to taint his sons by bringing these right directly into a scenario that will could, well, spell disaster?

Andrew: Anyone know, that's-- that's a fantastic question. Along With that's one thing that-- which I truly agonize over, like a son. you know, what my father did was-- therefore horrible. It's difficult for me personally to know that. and I'm not necessarily any closer to be able to understanding it now than I was 3 a lengthy time ago.

Bernard L. Madoff Securities employed over a hundred individuals nevertheless it seemed like a family members business. His brother Peter as well as several cousins labored there. Mark and also Andrew labored around the 19th flooring of New York's Lipstick Constructing where they will legitimately traded securities for the firm and for outside clients. the investment advisory company - the actual Ponzi scheme - ended up being housed a couple of floors under exactly where their father by zero means made just about any trades at all. He has been simply creating phony paper statements in which showed steady profits pertaining to his clients - his victims. Access for the 17th flooring has been extremely restricted.

Safer: An Individual musta been curious about why the particular 17th ground had been this sort of secret place. Once you or Mark asked him regarding his finish of the company what would he say?

Andrew: The idea has been usually a very similar response. The idea was, "You guys have got your company in order to concern your self with along with let me be worried about my business as well as the conversation would finish there.

Safer: Nevertheless people say there's not any way these kids cannot get had-- at the particular extremely least suspected some thing was likely on.

Andrew: Nicely keep at heart we were holding entirely separate businesses. We were executing hundreds of 1000s of transactions a new day. As Well As that will stored just about all of us extremely busy. And Also it simply didn't occur if you could well ask me he could be involved with virtually any type of criminal activity.

Andrew says his father would often walk his customers via your 19th floorboards to show real trades being made.

Safer: An Individual believe that the legitimacy in the trading business offered protection from what your current father ended up being doing?

Andrew: Absolutely. Absolutely.

Safer: that he has been making use of you and also also your own brother?

Andrew: Absolutely. This has been certainly 1 of the the majority of difficult items to arrive at grips with, inside attempting to get my head around this, has been in which feeling in which I had been used-- practically as-- as a human shield through him. He-- it's-- it's unforgivable. No-- simply no father must do this to their sons.

[Bernard Madoff: An Individual know the simple concept involving Wall Street...]

He says he believed his father was a monetary genius. There were suspicions with regards to Madoff's remarkably steady returns - however the SEC repeatedly cleared him regarding virtually any wrongdoing. Precisely what troubled Andrew ended up being his father's refusal in order to talk about any kind of plans for any succession.

Andrew: His program has been he had no plan. As Well As he'd claim that when he dies, his end of the company dies. and again, it had been often the-- the identical response, "That's the strategies by which it actually is along with it's not gonna change."

He ruled with an iron fist, however kept every person satisfied with money. Steady returns for investors as well as for family members a limitless stream of cash. Andrew along with Mark were compensated multi-million dollar salaries as well as the boys visited their father for even more: pertaining to houses, small enterprise ventures along with divorce settlements. Catherine Hooper says the particular Madoff benign dictatorship took several obtaining used to.

Hooper: The idea has been an adjustment, acquiring to recognize that your boundaries inside Andrew's loved ones were probably likely to become different than I was adopted to.

Safer: Does anyone believe that Papa Madoff ended up being your boss?

Hooper: There's simply no issue which he was.

Ruth: He might be a bully, without having question.

Safer: Yet did you ever suspect along the approach either strange behavior or somebody who was bottling up any secret or perhaps events any 1 of that--

Ruth: I in zero way did. I in absolutely no way did. This didn't seem that will way. There ended up being nothing that might help to make me suspect anything. At times I look back as well as I think because the many years went on, he started to acquire more and more brief tempered and maybe he just ended up being getting trouble, obviously, he needed to have got been.

In late 2008 - the entire world economy began for you to implode and markets were inside free fall - huge investors wanted out. Redemption after redemption strained Madoff's scheme to end up being able to its limits. on December 10th, 2008 - along with only a few hundred million left with the billions invested using him - Madoff realized the game ended up being over. He informed his wife to end up being able to transfer ten million dollars through the girl brokerage account in the firm in to become able to a individual checking account.

Safer: Does you not wonder what on earth is likely on here? Ten million money is a lot of money.

Ruth: That wasn't atypical regarding him to put profit an account along with consider it out. I didn't believe anything associated with it, actually.

That same morning - Bernard Madoff called a family members group meeting in his office.

Andrew: And Also he begun to try and talk for you to us and your man couldn't. He type of fell apart. Began in order to cry a little bit. Along With it absolutely was shocking to determine that. I mean, this is not a man who was mental inside that way from all. He declared maybe it could end up being less difficult if we talked elsewhere, as well as suggested maybe we should go approximately his apartment.

Ruth: He called in the workplace along with said, "I'm coming house using the boys, I get something to talk about." Came in, we went right straight into a room, four regarding us, and he said, "I possess a confession to make. I've been managing a Ponzi scheme." He said, "$50 billion dollars."

Andrew: He said-- "Everything I've been performing can be most a large lie." He said-- he said, "The enterprise is-- can be a Ponzi scheme, and also it-- the particular firm is very insolvent. And I Am broke." Along With then he just began sobbing. And That Will I was-- I-- I had been shocked. I-- it was-- I felt just like my head exploded. I mean, I-- I don't believe if he had explained he was an alien I could've been much more surprised. He said that the particular firm had liabilities of $50 billion dollars. That by no means occurred in my experience which his enterprise had something like this below management. This was-- it had been shocking

Safer: your mother, what was your ex reaction?

Andrew: Your Woman looked-- she looked shocked. she inquired "What's a Ponzi scheme?" has been her initial question. The Girl didn't even realize that. I feel it was me who answered and mentioned that, "It signifies that it's all fake. that Dad's-- you know, his-- he's not necessarily been carrying out what he says he's been doing." As Well As he adopted that up along with said, "Yes. I've been lying to any kind of or all of you-- just about all of those years. I've been lying to everybody. I've been lying to myself," he said. And--

Safer: Along With your own brother?

Andrew: My brother has been trembling using rage. He has been absolutely furious. Mark ended up being the really first one to operate as well as said, a person know, "I'm outta here." And Also he stormed outta your room. As Well As I-- I immediately adopted him as well as walked out.

Safer: Anyone know, there's the lotta individuals available who are saying, or is going to be saying because they watch this, "This will be most a charade. This particular ended up being something that the particular Madoffs set up to obtain on their own off your hook." This--

Andrew: I wish it were. I wish it were. I wish none regarding it was real. you know, I knew-- I knew practically nothing regarding this-- prior to my father shared the info using me. As Well As it was-- it had been probably the most shocking and-- and terrible moment of my life.

Ruth: I has been as stunned as they. I has been type of paralyzed. Bernie got up as well as said, "I'm heading back for the office."

Safer: was he psychological in almost any way?

Ruth: I don't understand that either, he or your woman must have got been.

Safer: Apologetic in any way?

Ruth: Probably, yes. I-- sort of your blank now, I'm not-- hedging here, I don't-- I just merely don't don't forget every detail. I is at such a state.

Safer: However later on in which day, that evening, you both turned up at the office Christmas party.

Ruth: I know, he phoned me from your office and said, "We need to be able to go towards the office Christmas party." so I got myself together along with went over there. We stayed the one-half hour. As Well As we merely went home. Along With the subsequent morning, your FBI has been there to arrest him regarding 7:00 a.m.

Andrew and Mark Madoff had turned their own father in. Shortly following your arrest, Ruth Madoff known as Andrew, pleading using him in order to co-sign his father's $10 million bail bond.

Andrew: And In Which I said, an individual know, "Forget it. There's zero way. I mean, how will you even ask in which question? No, I'm not signing which bail bond. That's crazy." And That Will I ended up being really-- I has been extremely upset she asked, simply because here I had just turned my father within towards the authorities each day before. As Well As now, it appeared that will I has been losing my mother too since the lady was siding with him.

Ruth: I just wanted him to arrive home. I was thus afraid.

Safer: afraid of?

Ruth: I mean, the complete idea, going to prison can be sort of unthinkable to me. I don't feel I actually knew anybody that visited prison.

[Reporter: Mr. Madoff what do you've for you to say pertaining to yourself?]

Bail has been ultimately guaranteed simply by Ruth as well as Madoff's brother Peter as well as Bernie was released. Just About All regarding his assets had been frozen, however in a stunning breach with the court order barring the transfer associated with property - a big and very valuable envelope arrived in Andrew Madoff's apartment.

Andrew: I tore open the actual envelope and-- and-- as well as dumped it out. And-- it absolutely was absolutely heartbreaking. These had been items of jewelry that I recognized. Issues which I had seen my mother wearing more than the-- over the actual years. And-- I couldn't-- I couldn't know the actual way the girl could do this. I mean, what had been these people thinking? And-- it wasn't until-- 3 years later, which haine I were built together with a chance to request her, "What had been anyone thinking when you sent me which jewelry? I don't understand." And-- the girl explained that-- your woman and also my father had planned to become able to kill themselves. and these people place collectively that will package beforehand and sent it out.

Safer: Do these people try to kill themselves?

Andrew: Yes, these people did.

Ruth: I have zero idea who-- whose concept it was. However we chose to kill ourselves since it was-- it absolutely was thus horrendous that which usually was happening. We had terrible telephone calls, hate mail. Simply beyond anything. and I said, "I can't-- I just can't go on anymore." That's when I packed up several things to deliver to my sons along with my grandchildren. I had a few lovely antique things and items that I believed they might want. I mailed them, it had been Christmas Eve, that additional for the whole depression. We took pills and awoke the subsequent day.

Safer: Precisely what did you take?

Ruth: I feel Ambien.

Safer: How many?

Ruth: I don't even remember. I had-- I-- I took that that you had, he took more.

Safer: Does you depart notes?

Ruth: No. It ended up being extremely impulsive and also I'm glad we woke up.

Safer: Nevertheless you have to get talked-- this can always be a rather significant choice in order to make?

Ruth: That wasn't hard at the time. The idea had been impulsive along with I just wanted out.

When we occur back, existence inside the Madoff apartment and also the death of a son.

The sheer scale involving Bernard Madoff's Ponzi scheme shocked the actual world. thousands involving individuals, charities and funds that will in a amount of recoverable format had been really worth any total involving $65 billion were wiped out. What's more, a handful of of his closest family as well as friends which had reliable him making use of their life savings faced ruin.

With Madoff now beneath residence arrest the world staked out his penthouse on 64th street - obsessed with what could be taking place at the actual rear of the particular drawn shades.

Ruth: Presently there had been lawyers coming with regard to meetings at the apartment. We watched a new large amount of television and also I cooked.

Safer: Ended Up Being there remorse? was there--

Ruth: Yes, there ended up being clearly remorse.

Safer: Or Even maybe it was kind of self pity?

Ruth: I believe in the approach he was relieved with first he has been finished.

Safer: Yet you need to possess requested your self a new thousand times, "Why?" You-- you might are already any perfectly comfortable, even wealthy family.

Ruth: without question.

Safer: without this.

Ruth: I don't understand it. I don't-- it's hard for me for you to say this, yet I don't believe the money had been the section of it, I feel he got stuck, it is strictly what he said. As Well As he didn't have the courage to be able to face-- confront items when they may well are already able to be faced on a a lot smaller scale.

Madoff repeatedly advised authorities that he had acted alone.

[Crowd: Do your wife possess something to accomplish with this particular sir? Obtain from here!]

That his family knew nothing...but who does believe Bernie Madoff?

Hooper: I keep throughout mind at a few point, we had been having breakfast and I believed to Andrew, "You know, men along with women feel that you had been involved." And-- I feel it had dawned on him, however it actually hadn't sunk in. And Also as I mentioned those words, he looked at me as well as said, "Do anyone truly think that? That Will won't last. I mean, it'll grow for you to be obvious extremely quickly that individuals weren't involved."

Safer: Does you have any kind start of suspicion with all--that your mother may well happen in order to be involved? Complicit in certain way?

Andrew: No. Absolutely not. I never as it were felt which my mother had been involved within my father's crimes or perhaps had been conscious of it in all.

http://www.youtube.com/watch?v=6Exen2RXh2g

[Safer: Anyone lived approximately there...you miss the particular apartment?

Ruth: not really.]

She lives a easier life now - inside a three space apartment inside South Florida, however your woman remains Ruth Madoff - lawful wife in the greatest economic criminal throughout history.

Safer: Precisely why haven't anyone filed to obtain a divorce from this man?

Ruth: I don't know. It is irrelevant to me-- he's gonna die throughout prison. I certainly don't wanna locate another man these days.

Safer: He'll possibly notice this interview. Are Usually an individual involved about--

Ruth: I has been considering that. No, I'm certainly not concerned. He should listen to it.

Believe the girl as well as not, the thousands of victims may have small sympathy for Andrew as well as Ruth, nevertheless it can not be denied that they also are usually victims of Bernie Madoff.

[Safer: There's Mark and also Andrew.

Ruth: Within happier times...]

They lost a son and also brother and will eternally have your shame in the Madoff name.

Andrew: Precisely what he does to become able to me, in order to my brother, and furthermore to my children can be unforgivable. Precisely what he does for you to 1000s of some other people, destroyed their particular lives--I'll in absolutely no way comprehend it. Along With I'll never forgive him pertaining to it. As Well As I'll never converse to always be able to him again.

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