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Truth and Consequences: Life Inside the Madoff Family Hardcover – October 31, 2011

by Laurie Sandell (Author)

4.1 266 ratings

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In December 2008, the world watched as master financier Bernard L. Madoff was taken away from his posh Manhattan apartment in handcuffs, accused of swindling thousands of innocent victims—including friends and family—out of billions of dollars in the world’s largest Ponzi scheme. Madoff went to jail; he will spend the rest of his life there. But what happened to his devoted wife and sons? The people closest to him, the public reasoned, must have known the truth behind his astounding success. Had they been tricked, too?

With unprecedented access to the surviving family members—wife Ruth, son Andrew and his fiancée Catherine Hooper—journalist Laurie Sandell reveals the personal details behind the headlines. How did Andrew and Mark, the sons who’d spent their lives believing in and building their own families around their father’s business first learn of the massive deception? How does a wife, who adored her husband since they were teenagers, begin to understand the ramifications of his actions? The Madoffs were a tight-knit—even claustrophobic—clan, sticking together through marriages, divorces, and illnesses. But the pressures of enduring the massive scandal push them to their breaking points, most of all son Mark, whose suicide is one of the many tragedies that grew in the wake of the scandal.

Muzzled by lawyers, vilified by the media and roundly condemned by the public, the Madoffs have chosen to keep their silence—until now. Ultimately, theirs is one of the most riveting stories of our time: a modern-day Greek tragedy about money, power, lies, family, truth and consequences.

Print length

352 pages
Language

English
Publisher

Little, Brown and Company
Publication date

October 31, 2011
Dimensions

6.25 x 1.25 x 9.75 inches
ISBN-10

0316198935
ISBN-13

978-0316198936
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Editorial Reviews

Review

"This biography about Ponzi schemer Bernie Madoff's clan is chock-full of drama.... anyone curious about this fractured, once tight-knit family will find plenty of food for thought here." 3-1/2 Stars―Nicole Weisensee Egan, People

"Although there have been at least 10 books written about the scandal, none has taken such an inside look at the personal lives of the Madoff nuclear family as this latest one by author Sandell. Although the Madoff family has been constantly hounded by reporters and the paparazzi since the story broke, Sandell has been the first to get the family to open up and tell their side of the story. Treated as pariahs, the family members have had to deal with the brunt of the ridicule and shame in the court of public opinion, while Madoff himself remains locked deeply inside a high-security federal prison.... Sandell spends a great deal of time setting the stage in a biographical account that includes typical family ties, celebrations, trials, and tribulations; the story... really starts to heat up after the confession, when the lives of Ruth, Andrew, and Mark begin to completely unravel. Sandell paints a sympathetic portrait that partially redeems Ruth and Andrew as they attempt to rebuild their lives and achieve some semblance of normalcy."―David Siegfried, Booklist

"Sandell makes a legitimate case that Mark and Andrew Madoff really were caught off guard by their father's crimes."―Kevin G. Keane, San Francisco Chronicle

About the Author

Laurie Sandell has written for Esquire, GQ, Glamour and InStyle, among others, and has contributed cartoons to New York, Glamour and The Wall Street Journal. Her first book, the graphic memoir The Impostor’s Daughter—about her own experiences with her eccentric, secretive father—was nominated for a 2009 Eisner Award. She lives in Los Angeles, California.

Product details

Publisher ‏ : ‎ Little, Brown and Company; 1st edition (October 31, 2011)
Language ‏ : ‎ English
Hardcover ‏ : ‎ 352 pages
ISBN-10 ‏ : ‎ 0316198935
ISBN-13 ‏ : ‎ 978-0316198936
Item Weight ‏ : ‎ 1.3 pounds
Dimensions ‏ : ‎ 6.25 x 1.25 x 9.75 inches

Best Sellers Rank: #1,287,143 in Books (See Top 100 in Books)
- #403 in White Collar Crime True Accounts
- #2,352 in Economic History (Books)
- #3,151 in Biographies of Business & Industrial Professionals

Customer Reviews:
4.1 266 ratings

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266 global ratings

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Customers find the content interesting and amazing. Opinions are mixed on readability, with some finding it well-written and satisfying, while others say it's poorly written and unsatisfying.

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12 customers mention "Content"9 positive3 negative

Customers find the content interesting and inspirational.

"...It’s quite an inspirational story." Read more

"...I found it to be very informative, and an insight into what each one of them were feeling...." Read more

"...second book I've read involving these two and two more self absorbed, angry, and catty women you'll never find!..." Read more

"Interesting read from the perspective of “Andrew’s camp.”..." Read more

7 customers mention "Readability"4 positive3 negative

Customers are mixed about the readability of the book. Some mention it's well-read and interesting, while others say it'd be better off not reading it.

"...Overall easy read with few topics that are over played." Read more

"...overall the book is a poorly written, one sided "story" which provides little of substance...." Read more

"...Extremely well written, compulsive reading - I just hope Ruth and especially Andrew get their lives back...." Read more

"A poorly written unsatisfying read...." Read more

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Yogini

Changed perspective Interesting read

Reviewed in the United States on September 4, 2018

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I actually learned something from this book. The characters that I originally thought of as spoiled, entitled babies, no longer seem that way. These are humans who were thrust into an unthinkable situation by a person they loved and admired. From news stories and media covers, Andrew always seemed like a weak, entitled prince. In actuality, he was the strongest person in that family. He confronted his family with difficult realities. He forged a new life. He had the will to survive and knew that there could still be a great life ahead. It’s quite an inspirational story.

2 people found this helpful

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Gup

Surprising.....

Reviewed in the United States on November 4, 2011

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From the beginning, I have been fascinated by the Madoff scandal. In the past three years, I have read a number of Madoff books and have found each compellingly interesting even though I never did quite understand the psychology of how it happened.

A few months ago, I bought Stephanie Madoff's book, rationalizing she had lost a husband and was therefore a victim. In itself, that book was telling in what it overtly offered and int he subtle clues to how she thought, and how the family operated.

Right after this book started making the media rounds, and I was intrigued enough to watch the interviews. I watched a few interviews with Ruth et al. I found myself almost wanting to hurl something at the TV. I think I may have yelled "liar" here and there and I still think there are lies in this account. I do not, as an example, buy for one second the story of "Bernie telling the boys". So many aspects of that story simply do not ring true. If the man I worshipped turned around and dropped the bomb on me that he was a liar and a thief, I think I may have spent a bit more time asking questions. Processing what had happend...and how. I find it hard to believe that they would go from that bombshell to "let's turn him in" with any further introspection. It just rings hollow.

Similarly, Ruth's account of suicide is disturbing....considering her son really did commit suicide. I think her personality, on tv at least, came across as narcissistic and out of touch with reality.

But I bought the book.....The last thing I thought I wanted to do was give these bozos any money, but in a moment of morbid curiosity and moral weakness, I bought it.

..... and I am glad I did.

I absolutely believe the Madoffs knew a bit more of what they said they did, but I walked away from this book believing and seeing that they were victims too. Whatever they know, and when they knew it, one cannot deny this was not something any of them initiated. The originator and executor of the crime was Bernie Madoff. As I read more about the dynamics of the family, I also found myself understanding the context in which this could have happened. Are there lies in this account? Absolutely---in both Stephanie's book and this book, elements do not ring true. However, there is much to indicate that the brothers were as much pawns as anybody else. Bernie Madoff stole from anyone and everyone with impunity; family, friend etc. It really is not a stretch of the imagination to see how he could have used his son's as "shields" as Andrew Madoff suggests.

The family dynamics are fascinating too. For example--both Madoff brothers had first wives who cheated on them. I found it ironic and even telling, they were both victims of deceit. On some level, you reap what you sow and this pointed right back to the parents. Ruth herself came across as self centered child....but not an altogether unforgivable character.

More than anything else, the grief is what surprised me the most. I spent an entire night reading it and I felt like, with every page, I was absorbing a overwhelming amount of grief and trauma. I woke up in the morning feeling sad and drained, as though I had experienced it too. In the end, the most colossal destruction of all was of his own family. As much as the many victims have suffered, they can at least hold their heads up high knowing they did nothing wrong other than trust. The family which seemingly benefited from the crime paid an enormous price that will continue for generations. Reading about the impact of the arrest of the beloved grandfather, as an example, or the death of an uncle--you can begin to understand the betrayal extended deeply to his own family as well.

Finally--I am not sure what to think about Andrew Madoff and Cathering Hooper. Their account initially came across as self congratulatory....but as I got further into the book, I began to get a clearer picture of a person trying to make his own mark. After reading the book, I was surprised as to how much more sympathetic they came across vs. Stephanie Madoff.

I hate to say this---but I recommend this book.

7 people found this helpful

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Neil Paczkowski

the answers we have been waiting 2 years for...

Reviewed in the United States on November 2, 2011

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I went into this book with minimal expectations. Expecting little personal details about the Madoffs. I was pleasantly surprised. The book goes in depth and talks about the Madoff's all the way from their days in a split level ranch in Roslyn; to their penthouse apartment in Manhattan; and all to Ruth's quest to seek a new life in anonymity in South Florida. The first book that truly begins to allow us to understand one of America's most fascinating families. The book makes it impossible to not feel pity for the family, especially Ruth, abandoned and left to fend completely on her own. The book really made me question what I should value and appreciate in life. Overall easy read with few topics that are over played.

8 people found this helpful

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Ruth Rachels

The Madoff family tragedy

Reviewed in the United States on May 24, 2017

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I don't agree with a lot of the reviews that said it was full of gossip. I've read other books that told in detail the unbelievable fraud that Madoff finally confessed. This book told of the horrible way the innocent wife and sons lives were destroyed. I felt so sorry for Ruth and her sons and their families.Of course I feel terrible for the 1000's of lives who lost everything they had. I wondered if I would feel all the hate people felt for the innocent family. I hope not. For the personal side of everything that happened, this was a great book. Bernie Madoff, in prison had it a lot better than his family did. He didn't suffer any of the things that they did.

One person found this helpful

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tooth whisperer

There's always a lesson to be learned

Reviewed in the United States on November 10, 2011

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I agree that this book is obviously biased towards the participants, but I do think that there are always lessons to be learned from the experiences of others. I do have sympathy for the family. They were trapped in dysfunction because of a controlling family member. This book is a great argument for being independent and fostering your own self esteem instead of looking to others to create your identity. Ruth and both of her sons were guilty of this. Many of us are guilty of the same thing too.

2 people found this helpful

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Curious

Great tell all and insight the aftermath

Reviewed in the United States on July 24, 2017

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This book was Awesome it was a tell all and a look inside the everyday before and after as well as how they felt and dealt with everything. Catherine Hooper seems like the most lovely strong woman and such a support to Andrew. I really felt it sad to know that Marks wife was talking to divorce lawyers during the lowest part in his life..I tried to order her book but after reading inserts about her silly complaints I cancelled...Thank goodness he still was able to vent and talk to his ex Susan.

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1 star

Interesting but slightly disappointing

Reviewed in the United States on April 1, 2024

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This is marked as an “inside” ticket to the Madoff family. Although I didn’t expect any divulging of real family secrets, I also didn’t expect it to be basically narrated by Catherine. Catherine in my opinion was nothing more than a manipulative, troublemaking, interloper who was desperate to be seen as part of the upper echelon but doesn’t quite make the cut. In plain English, she’s annoying

One person found this helpful

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Top reviews from other countries

William Runaghan

Excellent

Reviewed in the United Kingdom on November 2, 2017

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Well written. Felt I was getting the most truthful version of the Madoff situation. Felt really frustrated at Ruth’s attitude to Bernie and really wish she will divorce him. What is sad is that lately Andrew died to lymphoma....

lois v harrison

Ruth bullied and abused by three men.

Reviewed in Canada on May 15, 2014

Verified Purchase

Greek Tragedy. Shakespearean too. The book is more than I expected, emotionally. Given it is the family's personal account, I didn't go in expecting a forensic analysis or a guilty plea so I don't get what some of these reviewers are sniping about. Personally, I was shocked that the sons abandoned their mother. Period. End of story? I did not expect to feel anger so intense at two sons whose mother deserved better. I began to wonder, where's the love? Ruth is the only person who seems to know, feel or care about others. And she is not well treated by these men, least of all her sons. Mark was very ill and sadly I feel the only person who could have helped him, he shunned. It's likely his fragile state may have worsened as a result of medications, a common theme, the untold story lurking in the corners of most modern suicides. As for Andrew, I would hope he can shift his focus away from his mother's flaws and fearlessly examine his own. I feel saddest for Ruth. She has lost more than any person deserves. Losses sudden, shocking, traumatic. Incomprehensible. Unless you've been there. Her sister and brother in law are the other two humane and caring adults. Correction: Add Susan and Rich. The children are magnificent. Their friends too. Thank God. Right? The bigger question, as the book hurtled me to its end, in this world, where is God? May they find Him now. And know forgiveness. And LOVE.

Maria

Disappointing

Reviewed in Canada on March 2, 2022

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The more I read the more I thought Catherine (Andrew’s girlfriend) must have written this book. It’s not really about Ruth, Bernie or the scandal, but a book about how great Catherine is, how many “important” people she knows, how everyone loves her, how great for Andrew that she’s his girlfriend etc, but what an awful person his brother Mark was, and to some extent his wife. No one is perfect but there was no need to continuously bash Mark, almost on every other page.

DOPPLEGANGER

A STORY THAT DOES NOT HANG RIGHT

Reviewed in the United Kingdom on March 4, 2012

Verified Purchase

This 'inside' the Madoff family account in the aftermath of Bernie's Ponzi confession, trial and incarceration does unsurprisingly reveal a family in shock, turmoil, confusion, fear for the future, but more than anything all totally immune from the slightest feeling of blame or responsibility for the acts of their husband and father's horrendous acts of financial treachery that caused untold thousands of people dire financial consequences.

Having read 5 or so 'Madoff' related books, I am fairly certain that Ruth, his wife, and his sons Mark, and Andrew, who had executive positions in his brokerage business, were not directly or knowingly aware of, or party to the fraud perpetrated by Bernie Madoff over a 20 plus year period. However, it is hard to feel completely at ease with their protestations of "we knew nothing", having regard to the length of time the Ponzi scam prospered right under their noses, and must have been aware of the rumours. 'market talk'and media reports that were frequently circulating about the amazing investment results claimed by Madoff, which purported to far outstrip other prominent investment funds, year in and year out, often in the face of adverse market conditions. As senior executives of the brokerage business, although not formally linked to the Investment Management fraud, Mark and Andrew should have asked more searching questions of Madoff, and demanded sound answers supported by documentation. Had this happened years earlier then they would have exposed the Ponzi Scheme much earlier resulting in a much reduced loss to those already invested, and saving others from investing at all.

And why was nothing said with any determination? I suppose out of a combination of the defensive wall of intimidation put up by Madoff to repel difficult questions, which seemingly cowed his family into accepting the status quo, added to the fact that Bernie Madoff provided jobs and an untold supply of money to his Wife and Sons that enabled them all to enjoy a fabulously privileged lifestyle, resulting in the proverbial 'blind-eye, being turned.

"Truth and Consequences" is very readable, almost in a Mills and Boon manner. The book relates the story of the Madoff Family coming to terms with the shame and ignominy of Madoff's actions, told through the eyes and recollections of mainly Andrew Madoff and his partner Catherine Hooper, and, therefore, not unnaturally perhaps, sees matters from their prospective through 'rose colored spectacles'. The late Mark Madoff and his second wife Stephanie do not come out of the account quite so well, in fact they are portrayed as rather difficult, unreasonable and edgy people. The account of events leading up to Mark's suicide, and funeral are very touching and sad, and whatever the causes cannot warrant this degree of retribution.

Laurie Sandell deals with the issue of the alienation between mother Ruth, and her sons over her initially not breaking off all contact with her husband after his confession, which encouraged by their solicitors advice resulted in her not having any contact with her sons and grandchildren for a long time. It was not resolved with Mark prior to his death, but there has been a partial return to normality with Andrew and Catherine.

Despite it not being an altogether convincing exoneration of all blame, passive complicity, or responsibility on the part of Ruth, Mark, and Andrew Madoff, the book does give an in depth insight into their intimate lives immediately prior to and following the confession, and how they set about reshaping their lives, albeit with a lot less money. A very interesting and poignant read.

2 people found this helpful

Millie

Uplifting

Reviewed in the United Kingdom on April 5, 2014

Verified Purchase

I loved Andrew's strength and conviction and belief in Cathrine. I would have liked to hear Bernie's side of the story!
A great book for anyone going through a monumental crisis in life...
It's simply beautifully written.

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