Skip to: Content
Skip to: Site Navigation
Skip to: Search
FRIDAY, NOVEMBER 27, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


12

Madoff's Wife to Give Up $80M; Bernie Hit for $170B

Share

(Newser) – Ruth Madoff struck a deal with federal prosecutors today to forfeit nearly $80 million in assets and retain only $2.5 million in cash, the Wall Street Journal reports. The wife of swindler Bernard Madoff reached the agreement with the US attorney's office in Manhattan. Meanwhile, a US judge entered an order of forfeiture against the Ponzi schemer for more than $170 billion.

The order empowers prosecutors to go after Bernie's real estate, vehicles, and investments, although they likely won't recover the whole amount. Documents released today showed that Ruth agreed to give up boats and vehicles as well as properties in Manhattan, Montauk,and Palm Beach, Fla. The deal may allow her to move on after months of being shunned at Manhattan establishments and crucified in the tabloids.

Ruth Madoff is escorted by private security as she leaves the Metropolitan Correctional Center after visiting her husband disgraced financier Bernard Madoff, in New York on Monday, April 6, 2009.
Ruth Madoff is escorted by private security as she leaves the Metropolitan Correctional Center after visiting her husband disgraced financier Bernard Madoff, in New York on Monday, April 6, 2009.   (AP Photo/Mary Altaffer)
The building where a $7 million penthouse listed in Ruth Madoff's name and bought in 1984 is shown Tuesday, March 17, 2009 in New York.
The building where a $7 million penthouse listed in Ruth Madoff's name and bought in 1984 is shown Tuesday, March 17, 2009 in New York.   (AP Photo/Mary Altaffer)
In this March 17, 2009 file photo, the three million dollar ocean front home jointly owned by Bernard Madoff and his wife, Ruth, is seen in Montauk, N.Y.
In this March 17, 2009 file photo, the three million dollar ocean front home jointly owned by Bernard Madoff and his wife, Ruth, is seen in Montauk, N.Y.   (AP Photo/John Dunn, File)
Ruth Madoff is escorted by private security as she leaves the Metropolitan Correctional Center after visiting her husband disgraced financier Bernard Madoff, Monday, April 6, 2009 in New York.
Ruth Madoff is escorted by private security as she leaves the Metropolitan Correctional Center after visiting her husband disgraced financier Bernard Madoff, Monday, April 6, 2009 in New York.   (AP Photo/Mary Altaffer)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.24.09
Murdoch and Microsoft: The Mice Are Trying to Roar
11.23.09
Books Are Bad for You
12 comments
VIEWING:
 
plstyle
Jun 26, 09 9:25 PM CDT
2.5 million is still a lot of cash. She can invest that in an interest bearing account at 4% and make about 10,000 a month. And you know this bitch knew her husband was ripping people off the whole time. Reply
Vote up! Vote down!
+3
IN RESPONSE:
Newser001
Jun 26, 09 9:33 PM CDT
She shouldn't be left with a dime.
Vote up! Vote down!
+3
IN RESPONSE:
BeatBlaster
Jun 27, 09 12:37 AM CDT
Yeah what gives? I hate seeing the crooks get away with stuff.
Vote up! Vote down!
0
IN RESPONSE:
Abdulsamadabdul
Jun 28, 09 1:54 AM CDT
Is this hostility the result of being victimized? If so how much did they get you for? Or are you hostile because you lacked the resources to play the game from any angle- investor, thief, smuck, etc.
Vote up! Vote down!
-1
jaguarj
Jun 26, 09 11:30 PM CDT
Shunned and crucified??? Oh wa-a-ah! What bull..she's no better than he is. Reply
Vote up! Vote down!
+2

View all 12 comments »

LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

288 Stories

TO THE BIDDER GO THE SPOILS

 Madoff Auction Nabs $1M 

Yours for only $6K—schemer's college ring

Nov 15, 09 9:27 AM CST
(Newser) - Those pining for a little piece of Ponzi-scheme history ponied up more than a million bucks yesterday for disgraced financier Bernie Madoff's stuff—more than doubling the $500,000 take expected. The proceeds from the 200-some items goes toward repaying Madoff's victims, reports the Wall Street Journal in a rundown... More »

MORE ABOUT:
auction • Ponzi scheme • Bernard Madoff • Bernard L. Madoff Investment Securities

FBI Arrests
Two More
Madoff Aides

Pair of computer programmers helped hide scheme, feds say

Nov 13, 09 9:17 AM CST
(Newser) - The Bernie Madoff net widens: The FBI has arrested two computer programmers accused of helping hide the massive Ponzi scheme. Jerome O'Hara and George Perez will be in court today on various fraud charges, including falsifying books. They are the third and fourth people arrested in addition to Madoff, who... More »

MORE ABOUT:
Ponzi scheme • Bernard Madoff • Bernard L. Madoff Investment Securities • Jerome O'Hara • George Perez

GOING ONCE...

 Madoff's Stuff Up for Sale 

Feds hope to score $500K off jailed fraudster's possessions

Nov 10, 09 6:50 AM CST
(Newser) - Anybody who wants a piece of Bernie Madoff will be able to choose from hundreds of the shamed Ponzi kingpin's possessions at an auction this weekend. Items on the block will include jewelry, furs, and, for the brave buyer, a New York Mets jacket with "Madoff" emblazoned on the... More »

MORE ABOUT:
auction • Ponzi scheme • Bernard Madoff • Ruth Madoff

288 Stories


Business  •  Crime & Courts 
TwitterFollow @NewserBusiness on Twitter

 
Ponzi scheme • asset forfeiture • Bernard Madoff • Ruth Madoff

from our news partners