Cheat Sheet
The Best In Brief
THANK YOU
Your feedback has been sent!
Ruth Madoff Evicted
Mary Altaffer / AP Photo
Is Ruth Madoff now officially homeless? “The U.S. Marshals Service on Thursday took possession of disgraced financier Bernard Madoff's $7 million Manhattan penthouse in a move that forced his wife to move elsewhere,” according to the Associated Press. “U.S. Marshal Joseph Guccione said the marshals arrived at the property at noon with a court order permitting them to take custody of the apartment and to make anyone living there move out.” Ruth apparently complied with the order. "She will be leaving," Guccione said. "Restitution for the victims is the government's top priority."
COPYRIGHT © 2008-10 RTST, INC. ALL RIGHTS RESERVED.
bezvodka
So now she is left with a mere $2.5 million - until the bankruptcy court and the civil suits get to her.
She, her two sons, and a bunch of Madoff employees, plus those leeches who ran the feeder funds, should all go to jail since they either knew what was going on or are too stupid to be wandering around.
jimchristian320
that's a shame.
/not
Antinous
Follow the money. She knows who got what and will be seeking for a cut. Meanwhile, the bag lady can make some extra bread by renting Ruthie her stylish (her words) Palm Beach trailer.
This comment has been removed by The Daily Beast's editors.
JD92840
Aawww poor wittle Ruthie lost her home...
Trust me she knows where the money is...
What I'd like to know is why they haven't arrested, charged, tried and convicted ALL employees and family members who profited from this scheme?
They all deserve life in a super max facility not club fed!
fk4711
She made a deal with the fed to keep 2.5 million and not go to jail. It's a pretty good deal, I must said. If invest WISELY, she may have a decent retirement. Not thing can be further from truth for a lot of people who invested with them. They are not going to get their second chance. Life is not fair.
This user is no longer registered.
n--Y--charles116piktor
So where did Ruthie go?
This user is no longer registered.
n--Y--charles116Trilby16
She can come bunk with me. For a million bucks.
WorkerBee
If the United States is going to use Torture...These are the people we should use the tactics on!
keepakeeper43
What goes around, comes around.
oliverckerr
I want a spoon.
exploora
It is possible Madoff never expected to get caught.
It was only because of the crash, that these ponzi schemes began to collapse, and it is possible he told his sons, knowing they would turn him in, so that he could be physically protected from angry investors before the ponzi scheme's enormity was discovered.
If SEC couldn't figure it out, it is possible Ruth and her sons couldn't either without Madoff's help.
Madoff appeared to have the scheme separated from everything else, on one floor, being "run" by old equipment, possibly so that the timing could not be detected.
The finite scheme possibly appeared to grow into an infinite scheme, in Madoff's eyes, which of course would have been impossible and sooner or later the scheme would collapse but possibly not while he was still alive.
Given he possibly has 13 years left of life expectancy, and considering this scheme may have gone on for decades without detection, even though there were crashes before, it is possible, he may have thought he would die before the scheme collapsed.
It is possible the derivative market went haywire due to the war, sorry two wars, resulting in incredible volatile oil prices and combined with random biddings on future failures through shorting and what have yous, possibly during midnight trades, possibly feeding the humongous bubble until like all bubble do, it was so inflated it had to burst, and it possibly made the big burst quicker than anyone really expected it too.
Madoff possibly wasn't counting on such a big crash and when he saw it coming he gave himself up to his sons.
He technically didn't get caught, and according to the story, he revealed the scheme to his sons.
I think it is believable, without new evidence to show otherwise, he may have thought the scheme could continue til he died, so he didn't tell anyone.
This user is no longer registered.
n--Y--charles116Genni2002
Gee, and she cannot even call on family or friends! Poor, old lady. What will she do?
Thank you.
As a first time user, your comment has been submitted for review. It can take anywhere from a few hours to a day or two for your comment to be reviewed, depending on the time of week and the volume of comments we receive.