Madoff's Wife Under Scrutiny in Ponzi Scheme

By John Johnson,  Newser Staff
Posted Dec 17, 2008 8:58 PM CST
Bernard Madoff enters his house through a crowd of cameras in New York, Wednesday, Dec. 17, 2008.   (AP Photo/Seth Wenig)
camera-icon View 2 more images

(Newser) – SEC regulators are investigating whether Bernard Madoff's wife helped him cook the books in his $50 billion fraud scheme, Bloomberg reports. Investigators say that Ruth Madoff's name has shown up on transactions and that she may have helped track payments and keep secret records. Ruth, 67, has not been charged, though she had to turn over her passport and she is seeking her own attorney.

Bernard Madoff, who has admitted that his business amounted to a giant Ponzi scheme, is under house arrest after his wife and brother signed a $10 million bond. He has an electronic ankle bracelet and a 7pm curfew. The Madoffs had to sign documents forfeiting their ownership of various homes if Bernard flees.