Victim of Madoff Angry at Talk of a Plea Deal
VELEZ-MITCHELL: In the spotlight tonight, a financial predator who has ruined the lives of thousands of people. Just the mention of Bernie Madoff`s name is enough to get people screaming mad. Now, very disturbing news that a plea deal could be announced this Thursday. That has many of his victims in an uproar. Among them, my next guest. She lost her life savings in the $50 billion Ponzi scheme Madoff allegedly orchestrated. Joining me now, Phyllis Molchatsky and her attorney, Howard Elifsofen (ph). Phyllis, thank you so much for joining us tonight.</s>PHYLLIS MOLCHATSKY, VICTIM OF BERNIE MADOFF: Thank you, Jane, for having us.</s>VELEZ-MITCHELL: The Madoffs claim about $69 million in assets belong to Bernie`s wife, Ruth, and shouldn`t be touched. What are your thoughts on the Madoff family and what should happen to them?</s>MOLCHATSKY: Well, I have a lot of thoughts about that.</s>VELEZ-MITCHELL: Well, go for it.</s>MOLCHATSKY: Primarily I think the only people he might have some compassion for, some feelings for, might be his family, his wife, his children, his grandchildren.</s>VELEZ-MITCHELL: What do you think about it?</s>MOLCHATSKY: Well, I want these people to suffer and feel the devastation and the fear that the victims -- he has made all these victims feel. You know, most of us work our whole lives, and we want to leave something to our children, to their children. Not just a good sense of values and a sense of morality, but material things, as well, whether it be for a college education, whether it be for a home, for whatever.</s>VELEZ-MITCHELL: Could I ask you a question? How much did you lose and how has this impacted your life?</s>MOLCHATSKY: Well, at one point, $7 million. I put in $2 million, and I`m asking for 1.7. Of course, on the other side of the coin is, you know, of the people, by the people, and for the people, except what about protect the people? That`s where the SEC is.</s>VELEZ-MITCHELL: OK. There`s a possibility of a plea deal this Thursday, and I know that potential victims want to speak out. Phyllis, if you were to speak before the judge and argue and say this guy should go to jail or not, what would you say? What would your argument be?</s>MOLCHATSKY: Well, of course he should go to jail. Why shouldn`t he go to jail? He victimized so many people. I mean, you want to tell the people that -- of the families of the people that -- that took their own lives because of this that this man shouldn`t go to jail? Of course he should go to jail.</s>VELEZ-MITCHELL: Do you want him to go to jail for the max of 20 years that he should get?</s>MOLCHATSKY: Yes, I do. But more than that -- or in addition to that, I want -- I want -- I want them to speak with his wife. I want them to go after his wife, his children, because he did not do this alone. There are many, many people that were involved in this. And if the deal is just -- he`ll plead guilty and go to jail and leave everybody else alone, that`s -- that`s not good. That`s -- no deal. That`s not good.</s>VELEZ-MITCHELL: Phyllis, I know you`re very upset. And I want to also apologize to Howard, because this is a short segment. We won`t be able to get to you. But I want you to come back, Phyllis. Because on Thursday, he`s going to court, and I want to hear how you feel about that. Will you come back Thursday?</s>MOLCHATSKY: I certainly will.</s>VELEZ-MITCHELL: All right. Thank you so much. Octomom`s dad says he`ll fight any attempt to separate his daughter from her kids. Meantime, Octomom`s publicist quits, saying she`s nuts. You don`t want to miss this.