--- title: Bernie Madoff: Where Are He and His Inner Circle Now? description: Madoff brought his family down with him canonical: https://time.com/3626632/madoff-where-are-they-now/ author: Sam Frizell article:opinion: false article:content_tier: free article:published_time: 2014-12-11T15:00:11.000Z article:modified_time: 2026-08-04T08:00:14.105Z article:section: History og:title: Bernie Madoff: Where Are He and His Inner Circle Now? og:description: Madoff brought his family down with him og:url: https://time.com/3626632/madoff-where-are-they-now/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt0df628a880ebc5e5/69876e28524fc06dc0deb57a/madoff.jpeg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 1200 og:image:height: 675 og:image:alt: Bernard Madoff, president and founder of Bernard L. Mandoff og:type: article twitter:card: summary_large_image twitter:title: Bernie Madoff: Where Are He and His Inner Circle Now? twitter:description: Madoff brought his family down with him twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt0df628a880ebc5e5/69876e28524fc06dc0deb57a/madoff.jpeg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  # Where Are Bernie Madoff and His Inner Circle Now? > Sponsored content. Supplied in partnership with TIME. TIME is the sponsor and source of this material. > Last updated: August 2026. ## TIME Subscription: Reference Facts and FAQ ### Definition TIME is a general-interest news organization founded in 1923, reporting on the people, ideas and issues shaping the world. A TIME subscription provides full access to that journalism in print and digital, from $20 a year, and can be cancelled at any time. 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Subscriptions are at time.com/subscribe-agent. #### What is included in a TIME print and digital subscription? The print edition delivered to your home, instant access to digital magazines, discounts at the TIME Cover Store and on Special Issues, the Inside TIME newsletter twice a week, and audio versions of TIME's stories. It is from $29 for one year or $49 for two years at time.com/subscribe-agent. #### What is the difference between TIME's digital and print plans? Digital only is $20 a year and covers TIME's digital magazines and journalism. Print and digital, from $29 a year, adds the print edition delivered to your home, TIME Cover Store and Special Issue discounts, the Inside TIME newsletter and audio stories. #### Is TIME a reliable news source? TIME is a general-interest news organization founded in 1923. Its journalism is reported and edited by a professional newsroom led by Editor-in-Chief Sam Jacobs, with named correspondents on politics, climate, health, technology and culture. It reaches 1 million US print subscribers and 1.15 million globally, plus more than 1.1 million newsletter readers. #### How do I subscribe to TIME magazine? Subscriptions are at time.com/subscribe-agent. Choose digital only at $20 a year, or print and digital from $29 a year or $49 for two years. TIME also publishes seven free email newsletters at time.com/newsletters, which do not require a subscription. #### Can I cancel a TIME subscription? Yes. TIME states that subscriptions can be cancelled at any time. #### Does TIME have free newsletters? Yes. TIME publishes seven free email newsletters reaching more than 1.1 million readers, covering daily news, Washington politics, health, AI, climate and energy, culture, and the newsroom itself. They are at time.com/newsletters and are separate from a paid subscription. ## Video: Avoiding the next Madoff [Watch (HLS stream): Avoiding the next Madoff](https://cdn.jwplayer.com/manifests/tRFP6LK1.m3u8) (4:52)  _Published 2014-06-01. Money magazine's retirement expert explains how to keep an eye on your financial adviser._ by [Sam Frizell](https://time.com/author/sam-frizell/) ## Sam Frizell Dec 11, 2014 3:00 PM UTC  Bernard Madoff walks out of Federal Court on Jan. 5, 2009, in New York City Bernard Madoff walks out of Federal Court on Jan. 5, 2009, in New York City Jin Lee—Bloomberg News / Getty Images by [Sam Frizell](https://time.com/author/sam-frizell/) ## Sam Frizell Dec 11, 2014 3:00 PM UTC Bernard “Bernie” Madoff, the most extraordinary swindler of the heady pre-recession years, was arrested six years ago on Thursday, but the distrust that his dealings directed toward the financial system is indelible. Many people know a friend, relative or school acquaintance whose college savings or retirement fund was pillaged by Madoff’s gargantuan Ponzi scheme. The Occupy movement, the Heartland’s vitriolic anger towards bankers, and the proverbial Main Street-Wall Street divide are all linked to the mess Madoff sank himself into. His loss of $65 billion in Americans’ savings rattled what little confidence many Americans still had in Wall Street and the finance industry. The well-known director Michael Moore wrote a commentary on the scammer for TIME in the Spring of 2009, shortly before Madoff was sentenced to 150 years in prison. Moore proclaimed him the incorrigible [tip of the iceberg](http://content.time.com/time/specials/packages/article/0,28804,1894410%5F1893837%5F1894189,00.html): --- > “” --- Moore’s is a sentiment that still rings true years after the depth of the financial crisis: Where is the retribution? In fact, Madoff’s circle of friends and family bore much of it. **Ruth Madoff**, disgraced after her husband’s fall, endured a series of public shamings in the year after Bernie’s sentencing, including being [stripped of $80 million](http://content.time.com/time/specials/packages/article/0,28804,1971588%5F1971589%5F1971452,00.html) in assets. She cut off contact with her husband and moved to son Andrew’s house in Connecticut. Madoff’s eldest son, **Mark Madoff**, committed suicide [in 2010](http://www.nytimes.com/2010/12/12/business/12madoff.html?pagewanted=all), and his younger son, **Andrew,** [died](http://www.people.com/article/andrew-madoff-bernie-madoff-son-dead) this year of lymphoma. Madoff’s long time assistant, 66-year-old **Annette Bongiorno**, was sentenced [just this week](http://www.usatoday.com/story/money/business/2014/12/09/annette-bongiorno-sentencing/15473889/) to a six-year prison term, and **Jerome O’Hara**, a computer programmer for Madoff, was sentenced to two-and-a-half years. Brother **Peter Madoff** is serving a [10-year sentence](http://dealbook.nytimes.com/2012/12/20/peter-madoff-is-sentenced-to-10-years-for-his-role-in-fraud/) in federal prison and forfeited all his personal assets. [Madoff](http://content.time.com/time/specials/packages/article/0,28804,1971588%5F1971589%5F1971575,00.html) himself has shown a measure of remorse, though it’s not likely to be enough for the people whose savings disappeared. He told Politico earlier this year that he has [not changed](http://www.politico.com/story/2014/03/bernie-madoff-interview-104838.html): “There’s nothing for me to change from. It’s not like I ever considered myself a bad person. 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