HE WORKED AS A HOUSEMAN for Bernie Madoff for about seven years, having no idea his former boss was involved in a massive Ponzi scheme.
Furthermore, he said, even if he had known his employer was a fraudster, he would not have squealed.
Earle Jackman, 65, worked for Madoff before returning home to Barbados in December 1993.
In 2008, Madoff, founder of the Wall Street firm Bernard L. Madoff Investment Securities, was arrested and charged with running a $50 billion Ponzi scheme – one of the biggest money frauds ever in the United States.
He is now serving a 150-year federal prison term.
Notwithstanding all of this, Jackman recalled the good times he had with this “brilliant man”.
“I was the first Black he hired, as far as I know. My job was to clean his office, setup the conference room, and make sure the coffee was there – and if they wanted other beverages and alcohol.
“Bernie is a very nice man. Even if I knew Bernie was doing something so, I wouldn’t give him up. I wouldn’t. I am serious!” he said.
Noting that Madoff had a party for his 50th birthday and invited his entire staff, Jackman said the financial investment tycoon wouldtreat his employees well.
“Mr Madoff is a brilliant man, and I like him very much and respect him. All his staff respected him. Every 5th of July we [would] go to Montauk, Long Island . . . . When we get there the Friday we relax.
“Saturday the grills are going with all the hot dogs and burgers, and we drink all the beers . . . relax and play tug of war and volleyball on the beach.
“It was fun. Saturday night we have dinner at the Montauk Yacht Club where we dress up in jacket and tie.
“The Sunday morning we get up and we would play soft ball against the Montauk Police Department and the Fire Department. The proprietors in Montauk used to love Madoff for that weekend because they would make a fortune.
“So he used to spread it. Madoff was a good man,” theorized Jackman.
Ever since he learnt of Madoff’s arrest he has been following the case closely.
“[When] his son Mark committed suicide, I was shocked. Of course I knew him. Mark was the one always laughing and joking. But I think it was most embarrassing for a family that was living all the good life for all these years.
“Although I believe some of the people who said they didn’t know what Mr Madoff was doing, I believe that some did,” he said, as he turned to his computer to see what the latest news involving Madoff was.
Despite his former boss being arrested for massive fraud, Jackman said “I still have a lot of respect for him . . . . I am not sorry; but I am not glad either.
The Checker Hall, St Lucy resident said that although he was able to get very close to this rich man, he still considered himself “a small fish”.
“[Madoff] was clean and spick and span. Going to work, we had to put on a tie; no jeans. All staff had to be spick and span which I liked anyhow . . . . But when he got arrested, everything was finished,”
Jackman said, staring at some news on his computer screen.
During his tenure as a houseman, Jackman would have been entitled to a 401K plan to which he was making weekly contributions. When he decided to return to Barbados, Jackman was 47 at the time and could have kept the plan – which he did.
However, when Madoff was arrested, Jackman would have lost his 401K plan, which he said would have been valued at about US$30 000.
“. . . I lost my 401K but I wouldn’t say that I was a victim, as if I lost an investment. Yes, US$30 000 could be considered an investment, but I wouldn’t use it against Madoff,” he said.
“When I say I don’t mind, it happened. To tell you the truth I would like to use it . . . but he didn’t take the money and put it in this pocket,” added Jackman.
Jackman recalled working with a number of people from different countries, including, Puerto Rico, Greece, Italy and some Jews, on the 18th floor of the firm.
And, the former Madoff employee boasts having some paraphernalia, including a reference letter, and umbrella with Madoff’s name.
