Ruth Madoff | 03/16/2009 10:50 am

Govt. Goes After Ruth Madoff's Millions

By The Staff at wowOwow

Things aren’t looking good for Ruth Madoff.

The government last night filed a claim looking to freeze Mrs. Madoff’s assets. Madoff, of course, is married to Ponzi schemer Bernard, who pled guilty last week to bilking investors out of over $50 billion over the course of his career. Mrs. Madoff hasn’t officially been charged in the scam, but did recently hire her own lawyer and wrote a plea asking to keep $62 million.

This latest move, however, proves that investigators plan on getting to the bottom of her potential involvement. The notice lists several homes, boats and other assets, including a bank account in Ruth’s name that holds more than $17 million.

You can read the entire notice here.

Read more about: Bernard Madoff, Business, FBI, News, Ruth Madoff, Seized

25 Reader Comments (so far…) Sign In or Register to comment

The entire Madoff family had better end up living in walk up apartments and bagging groceries for a living… that or prison, take your pick.

By DeBúrca obj on 03/16/2009 10:57 am

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My guess, Bernie will fall on his sword (give up some account numbers) to save the family. Ruth may have to down grade to a condo in Boca and doing her own hair color and nails…but I don’t see them taking down the Sopranos of Wall Street.

By Mary Quite-Contrary on 03/16/2009 11:10 am

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This is Monday’s good news!

By Green Tears on 03/16/2009 11:02 am

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Good—and they should—those people who were injured by Made-off should get some compensation, though I do wonder why they trusted him in the first place. Was it complacency? Or just wrong-headed-ness? Or frankly just plain stupidity or was is cupidity—something about it strikes me as really wrong in many cases—he methods of doing business should have alerted his clients that something was wrong one would think.

By f p on 03/16/2009 11:21 am

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Yep…just checkin’….it’s all there under the second definition of "obscene"…

By georgia fatwood on 03/16/2009 11:24 am

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Hey, Georgia, howzitgoin’? I need some sun my way.

Perhaps, Mrs. Madeoff can survive in an apartment similar to the ones the victims are having to give up because of her husband’s stupidity and greed…

By Diana T on 03/16/2009 2:08 pm

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Hi Bluegrass…it’s clearing from the west now so the sun should be on your radar soon…Gotta be so careful these days about on/off thread…..The Madoff thing, along with so many others …art world…paring down the vacation(s)…is not on my personal radar but I try to play along….thinking how relative it all is….However much I try, I just can’t find a way in hell to forgive the unforgiveable….I tend to side with the "community service in extremis" posters …and I mean extreme to the point of physical suffering if at all possible……Lots…..Big Lots….

By georgia fatwood on 03/16/2009 2:48 pm

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I guess when Madoff’s paperwork showed he was ‘worth" in excess of 820Million dollars, they figure 62M is just a pittance—"chump change" as it were…

By Slinky Binx on 03/16/2009 11:57 am

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I think they should be made to live in a tent city…and all their money frozen and given back to who it was stolen from with interest…It appears they have plenty of it to give back…You know this gives a whole new name to WRONG!

By C Hardy on 03/16/2009 11:57 am

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I don’t wish tent city on anyone—-but I agree that their money should be frozen and given back to those who it was stolen from……after all……that is SOP under normal circumstances. I find it hard to believe, as well, that Mrs. Madoff so desparately believes that she needs $62 million in order to live a decent life…..that is VERY generous an estimate…after all… is money that much more important than anyhting else life has to offer? It is unfair of me to judge—-but there are people who have been left with nothing…….zilch….who have lost everything yet were NOT married to someone who stole money for a living….who were NOT all powerful with strategic connections tied together with a string of wealth…lots of hard working, honest people. methinks she is a tad bit greedy.

By Patty E on 03/16/2009 1:28 pm

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He needs prison time however he will qualify for a Level One Federal prison in upstate Pennsylvania….cushy….low security….tennis courts, etc. Life will uncomplicated and serene for him. Meanwhile his family will have to undergo investigation and rightly so.

This should be a valuable lesson to everyone about who you choose to invest your money. Financial advisors are a dime a dozen and are in business to "earn an income" for themselves….first. So, beware.

By deber B on 03/16/2009 12:34 pm

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This is only right, no way should she be sitting on millions that her husband swindled out of poor folks and expect that she can keep it. They have lived the high life all these years with their greed and no thought of the lives they could and have ruined, it’s time to pay the piper for both of them. Hopefully he will never see outside a prison wall again and she will have to learn (if she’s not involved, which I find a stretch) how to live like the "real people" have to out in the real world away from lavish homes and lifestyle. All these folks should be made to pay back what they have stolen, it is stashed away somewhere and it should be traced wherever it is and given back to those folks they ripped off.

By caj p on 03/16/2009 12:36 pm

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Although capital punishment is a "taboo" subject in US, there are CERTAIN OCCASIONS it should or might be used…perhaps to serve as an example of what not to do? in the name of materialistic greed? for people in EVERY job occupation including GOVERNMENT OFFICIALS? lyndie j

By lynn jerry on 03/16/2009 1:01 pm