Madoff's Fraud: A Family Affair?

Disgraced Financier's Family All Deny Knowledge Of Swindle, Many Don't Buy It

(CBS)  One month ago, Ruth Madoff would not speak to CBS News then she did break her silence today in a statement saying: "My reluctance to speak has been interpreted as indifference or lack of sympathy, which is exactly the opposite of the truth."

CBS News correspondent Jeff Glor reports that she did not appear at her husband's sentencing but went so far as to group herself with the victims.

"Like everyone else, I feel betrayed and confused," she said. "The man who committed this horrible fraud is not the man whom I have known for all these years."

While both husband and wife insist Bernie Madoff acted alone, the Cohen family lost everything and don't buy it.

"I think absolutely Ruth Madoff was involved," Marcia Cohen said.

In fact questions surround the entire family: Brother Peter was the company's chief compliance officer; Bernie Madoff's sons Andrew and Mark were in charge of trading at the firm, and got millions in loans from their father. All deny knowledge of the fraud, as does Ruth, who recently gave up $80 million in property, holding on to two and a half million with the hope of avoiding prosecution.

Madoff seems to be going out of his way to protect his family.

"How about protecting ours?" wondered Marcia Cohen.

Former prosecutor Elizabeth Crotty says if Madoff is lying to save his family, it won't work.

"If the family members have paperwork that indicates that they were intimately involved then they will be called to task," said Crotty, who added that it is not reasonable to think Bernie Madoff could have orchestrated the scheme all by himself.

Madoff's chief financial officer, Frank Dipiscale, is reportedly negotiating with prosecutors to cut a deal. So is his accountant, David Friehling, the only other man facing criminal charges.

But in the end, with Bernie Madoff claiming to have acted alone, it may come down to prosecutors sifting through evidence to see if a man no one trusts is telling the truth.

Complete Bernard Madoff coverage:

Madoff Sentenced To 150 Years In Prison
Ruth Madoff: "Embarrassed And Ashamed"
Madoff's Fraud: A Family Affair?
Transcript of Madoff Sentencing
Analysis: 150-Year Sentence "Grossly Unfair"
Court Sketches: Madoff Sentencing

[skycarfraud]

How would YOU feel if a PUBLIC company is playing the same game and NOBODY wants to stop the fraud scam ?

Can ANYBODY HELP ? Sent e-mail to state attorney, politicans and 60 minutes............. http://www.ripoffreport.com/reports/0/450/ripoff0450200.htm

[DaBroiler]

His entirely family should be wiped out just as he has wiped out the entire families of many others.

[frankieblac]

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[healthhavencom]

Madoff is small potatoes compared to the massive fraud that is the Federal Reserve.