Sometime the first week of December, Madoff tells one of his sons that he's facing $7 billion in redemptions and is having a hard time meeting those obligations.
According to Fortune, Madoff asks his wife Ruth to make two wire transfers from a brokerage account to her personal bank account -- one on Nov. 25 and one on Dec. 10 -- totaling $15.5 million, so they would have cash on hand.
He continues to push hard on Fairfield Greenwich to raise money; the firm starts a massive fundraising campaign for a new fund they name Fairfield Emerald. On Dec. 10, Tucker sends a letter (PDF) to Madoff in which he apologizes for the continued redemptions. "Our firm is very dependent on its relationship with your firm," he writes. "… Our mission is to remain in business with you and keep your trust."