“We’re okay now,” says Judith Welling, sitting in her Battery Park apartment. Welling invested with Madoff because her late mother was invested with Madoff, at the encouragement of friends and investment advisors. Together, the mother and daughter had put in $500,000 by 1992. They thought it was safer than trading on the stock market. Obviously, they were wrong. Their savings were used to pay off other investors in Mr. Madoff’s fake investment fund. More on MarketPlace here.
