Spin City: Shana Madoff Pals Say She’s A Victim


Shana Madoff, Bernie’s niece, was the in-house counsel and compliance director for Madoff. And, she’s married to a former SEC lawyer. And the spinning is on.

Witness today’s NY Post with the following headline: “MADOFF’S OWN NIECE GOT CLEANED OUT, TOO”

NY Post: Shana Madoff Swanson’s family “had a lot of money in the fund” run by her uncle, said a source familiar with the situation.

“She’s a victim herself . . . she’s lost a substantial part, and possibly virtually all, of her net worth,” the source said.

If the commenters—clearly Shana’s pals—in our earlier post about her shopping habits are to be believed, the woman is a Toyota-driving saint! She only agreed to be interviewed for the NY mag shopping story as a favour to her sister-in-law, Stephanie. (We’re not sure why this is a favour to Stephanie, so commenters, please enlighten us):

anonymous said: Dec. 13, 10:06 PM I agree. I know Shana and she’s incredible. I remember this article – she did it as a favour for a friend who was a designer and didn’t even actually own any of these dresses. she was only trying to be helpful, which is how she always is – just look at all the charitable work she’s done.

So, this person is defending her by saying she lied to NY Mag about owning the dresses?

Dec. 15, 12:20 AM anonymous said: If you know anything, you know Shana & her family knew nothing of this. They have all lost everything they had invested with Bernie. Shana is not under investigation & if she ever is, they will find nothing, because there is nothing to find. As for her husband, his reputation speaks for itself. Again, let them investigate – there is nothing to find.

As for the article slamming Shana – why don’t you go kick some puppies instead! Shana has done nothing wrong. She is a loving, considerate & caring individual. People seek her help to promote their businesss because they know she cares. That does not make her a shopaholic. Perhaps you should research your material before publishing unflattering information. By the way, she is proficient in the english language and does not use the phrase “um”.

Get your fact straight before you accuse. There are many victims here.
Anonymous said: Dec. 16, 1:10 AM None of you know the depth of which this has hit Bernie’s extended family. He has duped everyone. And anyone that questioned him was let go or dropped from the business. To single out Shana is to make her a scapegoat.

If you want to place blame, where was the SEC? As for the conflict of interest that has been insinuated, I happen to know that E. Swasnon left the SEC before becoming involved with Ms. Madoff. The records will all show this to be true.

This witch hunt needs to stop. There is one person at fault here. The media mess that is destroying other members of the family is stressful beyond belief, especially because they have done nothing worng..

God bless Peter, Shana & their families.
Friend of the Madoffs (Shana, Eric, Peter, Marion) said: Dec. 17, 12:52 PM Anyone that knows Shana knows the Narsico article was favour for Stephanie Madoff. Shana is a toyota driving down to earth mother whose biggest flaw was that she trusted Bernie. All she wanted since her brother died was a sense of normalcy. Peter and Shana have spend the last 5 years caring for and mourning Roger. They had all there money tied up with Bernie as well. Anyone that knows the Madoffs knows at this time that they ALL invested with Bernie and all lost with him too.
Eric is a mid westerner who never even liked Bernie. Eric was never taken by Bernie. He knew better. And I do not mean that in an investigatory way…..It is his midwestern values///
For bernie to brag about there relationship is ridiculous when he had no problem letting everyone know he was against there marriage. That is my retropsective red flag…..After the loss of Roger he should have been happy for her.