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Politics | 02/11/2009 11:50 am

Ruth Madoff's Shame: Bernie Madoff's Wife Withdrew $15.5M Weeks Before Arrest (Report)

By The Staff at wowOwow.com
© iStock

We’ve been wondering whether Ruth Madoff — who’s been married to accused $50 billion swindler Bernard Madoff for nearly 50 years — knew of her husband’s dirty investments. We even asked our brilliant wOw women if they thought Ruth, like Seema Boesky in 1984, was blind to all the smoke and mirrors. Well, we may have our answer. Weeks before Madoff confessed his misdeed, Ruth withdrew $15.5 million from her bank accounts, reports the The Wall Street Journal:

Bernard Madoff’s wife, Ruth, withdrew $15.5 million from a Madoff-related brokerage firm in the weeks before her husband’s arrest, according to the Massachusetts Secretary of State. A complaint filed Wednesday by Secretary William Galvin’s office said Ruth Madoff withdrew $5.5 million on November 25 and $10 million on December 10, according to documents from Cohmad Securities, which was co-owned by Mr. Madoff and which the Massachusetts office is investigating. Mr. Madoff was arrested December 11 on allegations of perpetrating a massive Ponzi scheme.

And this couple is still sitting pretty in their luxurious Upper East Side apartment?! Shame on Bernie and shame on Ruth, too!

Click here for further reading.

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

Green Tears
Ruth Madoff does not appear to have any shame in this matter.
By Green Tears on 02/11/2009 11:57 am
Lori F.
Bernie no doubt being a powerful male, kept his wife out of the loop! His wife was on a “know need to know basis”! This poor woman didn’t have a clue what her husband was up to. Now if you believe this I have a very nice bridge in New York to sell you. The Golden State Bridge in Cali!
By Lori F. on 02/11/2009 12:51 pm
Belinda Joy
Like I suspected all along….she knew. For shame….for shame. How these people sleep at night is beyond me.
By Belinda Joy on 02/11/2009 1:11 pm
caj p
Of course his wife knew about this, he apparently has sent a lot of money to Israel where it will be nice and safe away from prying eyes of the folks who he has ripped off. Why isn’t he put in jail, but allowed to stay in his expensive penthouse…it’s all laughable, anybody else would be slung in their so fast their feet wouldn’t touch the ground. Oh to be rich you can get away with so much and the justice system is a joke.
By caj p on 02/11/2009 1:16 pm
f p
Yep she knew—she worked with him in the office for crying out loud. She definitely knew/
By f p on 02/11/2009 1:34 pm
Grande Camper
Oh no… .she didn’t know … hum …no not at all … see she need the money for… . hum. .. honestly she didn’t know… . LOL
By Grande Camper on 02/11/2009 1:53 pm
f p
lololololol
By f p on 02/11/2009 2:23 pm
kathy hurt
I am still amazed,when he does step out of his billion dollar condo,no one shoots this guy right in the heart!!!!!!!Well,guess he could end up in prison,then die serving timelike the Enron guy.Have to be careful……what goes around………………..
By kathy hurt on 02/11/2009 2:43 pm
Catherine Kaiman
What heart? lol. kathy, I too am amazed that nobody has made an attempt on his life. I’m sure it weighs heavy on his mind as well. As for his wife, she is just as crooked and pathetic as her husband.
By Catherine Kaiman on 02/12/2009 10:36 am
Patty E
It is my belief, that most of us here, and most of the people who were close to the Madoffs’ knew that Ruth Madoff had to know….I find it hard to believe the sons didn;t know, but then all parents keep ‘secrets’ from their children, of many kinds…so at ‘not to worry the children’. That Madoff is not yet in jail, is astounding! That Ruth Madoff withdrew MILLIONS of dollars, on 2 occasions, and no one noticed—is ALSO astounding! I withdrew a mere $25k one year, in a lump sum, and the IRS decided to audit me!!!!!!! ANYthing over $10K sends a heads’ up to the IRS and other governmental arms—-they want to know what you are doing with that money! If you think this is a free country—-you are wearing your underwear on your head! Madoff and Ruth are free, because they are rich! and they KNEW they would not have to follow the same rules as everyone else. Why else would two people who know as much as they do, attempt to do even MORE that they know is wrong, illegal, unethical, fraudulent—-you put in the adjective…
By Patty E on 02/11/2009 2:49 pm
Lee Harrison
If you think this is a free country—-you are wearing your underwear on your head! ” tee hee…what a funny picture that draws;-)
By Lee Harrison on 02/11/2009 6:23 pm
Victoria Victor
Shame? You must be kidding! People with no conscience are incapable of feeling shame.
By Victoria Victor on 02/11/2009 3:25 pm
elaine s
I suspect there is a whole nest of people who were in on this scam. I wonder about his sons as well. Where is the money now that Ruth took out? Whom have the Madoff’s paid off to stay out of jail?
By elaine s on 02/11/2009 3:32 pm
Andy C
My questions exactly. Of course she knew and probably the rest of the family knew as well. Shame? Their only shame is that they didn’t continue to get away with it.
By Andy C on 02/12/2009 6:51 am
shirley adams
wife’s are not totally stupid, if you have x-amount of houses and x-amount of cars and x-amounts of money. something up. she knew! give me a brake! she a rip-off just like her husband. but what goes up must come down!!
By shirley adams on 02/11/2009 3:49 pm