Bernie Madoff, the once hailed Wall Street wunderkind who turned out to be a criminal mastermind, died in prison on Wednesday.
But one place where he preyed on his wealthiest victims — the uber-rich enclave of Palm Beach — has moved on from the disgraced financier after his Ponzi scheme fell apart in 2008. For most on the island these days, Madoff is more of a punch line than a sucker punch.
“My impression now is that the real anger and resentment has dissipated,” said Richard Rampell, a retired certified public accountant on Palm Beach who had several clients who lost money to Madoff.
“Almost nobody talks about him anymore.”
Word of Madoff’s death at 82 was confirmed by the Federal Bureau of Prisons.
Madoff, who for years had a seasonal home in Palm Beach, pleaded guilty in March 2009 to running the Ponzi scheme — estimated at $17 billion and the largest in history. He was serving a 150-year prison sentence.
Although original estimates had the Ponzi scheme at $65 billion, much of that is the result of fictitious profits recorded by Madoff.