SHOCKING: Exclusives///bernie madoff minutes ruth andrew mark family money ponzi scheme video - Breaking Details

📰 October 23, 2026
Your tip
Your tip
RadarOnlineRadarOnline
or
Sign in with lockrMail

Ruth Madoff Asked Bernie, 'What's A Ponzi Scheme?,' As He Confessed

//madoff_ruth

Oct. 31 2011, Published 5:00 a.m. ET

RadarOnline CommentsLink to FacebookShare to XShare to FlipboardShare to Email

By Adam S. Levy,

Breaking Celebrity News Staff Writer

Ruth Madoff didn’t even know what a ponzi scheme was until her husband Bernie came clean to the family about his $65 billion con in 2008, her son Andrew told 60 Minutes Sunday, where he and his mother discussed the family’s fall from high society power brokers to shame, jail and suicide.

Ruth, 70, told Morley Safer her life has been forever changed the past three years, as she "can barely walk down the street without worrying about people recognizing me."

Article continues below advertisement

She insisted she had no knowledge her now-incarcerated husband was perpetrating America's worst ever financial scam.

"I trusted him -- ‘Why would it ever occur to me that it wasn't legal?" she said. "The business was -- his reputation was almost legendary. Why would I ever think that there was something sinister going on?"

Andrew, 45, said he