As Losses Mount, Madoff Son Goes Shopping

Investment scam doesn't appear to hinder family's holiday spending
By Rebecca Smith Hurd,  Newser User
Posted Dec 22, 2008 12:00 PM CST

(Newser) – Watching investors lose their shirts on Bernard Madoff’s investments didn’t deter his son and daughter-in-law from a holiday shopping spree yesterday, the New York Post reports. Andrew Madoff, who worked for Dad’s failed financial firm, and wife Deborah power-shopped SoHo, snapping up items from J.Crew, Kidrobot, Longchamp, and American Eagle. The two have been separated for a year, the Post adds, and Deborah served him divorce papers the same day his dad was arrested.

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Meanwhile, Madoff’s neighbors in the Hamptons are worried they may have to move before next Christmas rolls around, thanks to his $50 billion investment scam. “I feel stretched beyond belief. I’m just trying to marshal the energy to keep going,” said one, who invested with Madoff for 20 years. “He’s a terrible, venal person.” (Read more Bernard Madoff stories.)

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