Andrew Madoff gets hit with a divorce petition

The New York Post Page Six is reporting that Bernie Madoff’s son Andrew has been served with a divorce petition. As everybody’s heard by now, Bernard Madoff was a Wall Street honcho who is being accused of one of the biggest investment frauds in Wall Street history. He’s accused of using a ponzi scheme – paying old investors with the principal from new investors – a fraud with losses that totals in aggregate, over $50 billion dollars. Daddy Madoff was fudging the books for years.
Most of his victims were wealthy Americans, University endowments, corporations, Synagogues and hedge funds. It was his sons Andrew and Mark who turned in their father to the feds. Since then, the family is apparently “coming apart at the seams.” The boys apparently have not been on speaking terms with with of their parents since the arrest of Mr. Madoff senior. But it seems things have become incrementally more stressful for son Andrew, 42, when his wife of almost 17 years, Deborah, 41, “filed divorce papers in Manhattan Family Court on the same day his dad was cuffed.”
I am willing to bet that Debbie realizes this is a titanic ship that will take a lot with it when it sinks. And she is getting out stat, so that she can preserve what she can of her “EQUITABLE DISTRIBUTION.”
But, I suspect the feds may find a way to freeze up these assets. I mean, the sons allegedly worked for daddy’s company, and all of daddy’s assets have been frozen. So even though Deborah Madoff has made a smart preemptive move, it may be too late for her to recoup any loot. By the time her divorce is adjudicated, I am sure Andrew will be in up to his eyeballs in this mess, and his assets will be frozen too. But I should point out that as of now, the SEC says the boys had nothing to do with this.