The Porn Ponzi Schemer Is Now On Welfare

philip barry ponzi brooklyn

Most big-time white-collar criminals live lavishly off their tainted money. Who wouldn’t?

Not Brooklyn’s Bernie Madoff, Philip Barry, who was arrested this week for allegedly running a 30-year, $40 million Ponzi scheme.

The New York Daily News reports that Barry, 52, has received $180 in public assistance and $250 in New York City food stamps, according to recent court filings.

The city didn’t return our call for confirmation and more details, but this seems consistent with other accounts of just how frugal Barry was. According to a previous NYDN account:

  • Barry’s office is a shabby Brooklyn storefront filled with shag carpeting, tattered metal office furniture and a tiny black-and-white TV.
  • Instead of hitting fancy restaurants, he heated up TV dinners in his office. Investors said he was even too cheap to buy a sandwich for lunch: Instead, he brought in packets of cheese and bread to make his own.
  • “He wasn’t a flashy dresser. He didn’t have an expensive car,” said a 73-year-old retired tinsmith from Dyker Heights who lost more than $300,000. “He seemed like a pretty steady guy.”

Now, Barry’s really broke. According to an affidavit this week, Barry claims he earns “zero” from Barry Publications, his mail-order porn business that was funded with Ponzi dollars.

Photo: NYDN/Oates for News

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