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Ruth Madoff Gives Up Cash
Mary Altaffer / AP Photo
Ruth Madoff just reached a deal with prosecutors that will allow the wife of the Ponzi schemer to continue riding New York subways—provided there are no additional fare hikes. Bernie Madoff originally asked prosecutors to allow his wife to keep $70 million in assets, but on Friday she gave up the claim and kept only $2.5 million in cash. Madoff’s wife reached a settlement that will sell off her properties in Palm Beach, Montauk, and Manhattan to shore up money for the victims. The settlement, however, doesn't prevent the SEC or the Madoff trustee from coming after her funds in the future. On Monday, Bernie Madoff will be sentenced in federal court where prosecutors are pushing for 150 years in prison.
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mattbenzor
She better give more than cash............!house,cars,jewelry the dog.
Plantagenet
Bernie Madoff was a big donor to the democratic party. Of course that has nothing to do with the prosecution agreeing to allow Ms. Madoff to keep 2.5 million dollars of the billions that Bernie stole.
squiggy
Seems a like a lot of money to me. I think she got special attention. Go figure!
carlinho
I'd have far less of a problem with this if I could be sure they would only pay it out to her at minimum wage rates per week. Make her understand TRUE poverty. Maybe THEN she could appreciate what her husband has done to all of his investors.
felixsama
EXCELLENT! She'd have to live to way over a 100 to collect!
No pity for the Madoff's or the rest of the rich (what fraction worked for it? They can stay). Time for guillotines and I don't even believe in the death penalty! These people are eating the planet- time to spread the wealth and maybe save ourselves and the world. Screw these feckers who think the world doesn't need clean air or water- and happily still uses slaves (prisoners and many many working in 'sweatshops' around the world) and claim to be moral businessmen. Gonna get us all killed; don't even care about their own grandchildren..............
co-intheknow
Uh, isn't 2.5 mil a helluva lot more than what most of the elderly investors where left with? Honestly, she should be as destitute as their poorest client. Karma...you all know the rest.
Kirbonicus
Karma can't be imposed by man, though.
oliverckerr
I want a spoon.
squiggy
No kidding, me too, silver, of course!
oliverckerr
Would Ruth have anything less than silver? Two and a half million probably represents enough, with Fidelity, to keep her digs in New York City.
There is always the book deal. A well written book about her life with Bernie, what they accrued, how she was "in the dark" wink wink . . such a treatise would sell.
I smell a ghost writing job.
squiggy
I hope she does so civil court can take it all!
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n--Y--charles116spinozareader
Laughing my shickse tochus off.
(LMSTO-- in the parlance of the blogger?)
squiggy
enjoying the education charles! LOL
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n--Y--charles116Hawnzz
Awwwww.... couldn't happen to a nicer woman.
amapola101
I believe they were ready for this. who knows what is really put away.or has been invested somwhere else.What is more sad is that there are many other bernies,dressed in great suit and ties and have gotten away,with fortunes of the people in this country.In mortgage transctions, in realestates,banks,wallstreeters,investments,not all of course but here and in other allied partner countries there have been incorrect fortunes made.and many should be in court.&wont.
oliverckerr
There is an attorney in St Petersburg I know, only casually, see him in a Starbucks, exchange pleasantries - he drives a Bentley convertible - all he does is sue rip off people in the stock market. There is a whole law suit industry in this stock fraud area.
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n--Y--weedySeadragonkeepakeeper43
Winning Post for "Ruth Madoff Gives Up Cash" :
"charles116
Maybe I will run into her at SCHMATTAS 'R' US."
lol!!
squiggy
I hope attorneys are lined up with civil suits to put her in the hole for at least as much cash as she was given, making her debt $5milion!
JonesRE
The biggest Ponzi scheme in the history of humanity is the grossly misnamed "Social Security." Madoff's little scam is amateurish tiddly winks by comparison.
Amongst all the angst and hand wringing over what evil Madoff hath wrought...perhaps there's [yet another] lesson to be learned for all the fools who put their whole life savings into a single investment.
Buyer Beware!
Hawnzz
I'd take every dime, make her a greeter at Walmart and make sure that was all she had to live on. (I'm cruel... I know it. But certain crimes deserve certain unusual/cruel punishment.)
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