RSS Feed
Manhattan, NY - Feds Looking to Freeze Ruth Madoff's Assets |
|
| |
News Source: NY Post
Text Size
|
|
Ruth Madoff, wife of billionaire Ponzi schemer, Bernie Madoff, wrote a book on Kosher cooking. Maybe the sequel should be called: Cooking the Books. And it definitely won’t be Kosher. (edit)
The Securities and Exchange Commission is working with federal prosecutors in Manhattan to prepare a filing asking a judge to formally freeze all of Ruth Madoff's assets as soon as possible.
"The US attorneys will be in court in the next week or so to tell a judge that they believe Mrs. Madoff's assets are derived from ill-gotten gains and that they should be frozen for a certain period of time while the investigation is ongoing."
"You do not need the case to be nailed down, you just need to be able to convince the judge that there is a strong probability that the funds in question came from crime," a SEC source said.
Ruth, 67, voluntarily agreed to freeze her assets shortly after her hubby was arrested. Ruth came under suspicion for having removed about $15.5 million from two wire transfers only days before her husband's arrest.
Ruth withdrew $5.5 million from Cohmad Securities, a Massachusetts-based brokerage firm part-owned by her husband, where she has $45 million in municipal bonds in her name.
Then on the day before Bernie's arrest - she took an additional $10 million from her account, filings show.
A filing in federal court on Friday showed that Ruth has $92.6 million in assets listed in her name.
Among them are the $7 million Upper East Side penthouse where Bernie was kept under house arrest until he pleaded guilty, an $11 million mansion in Palm Beach, Fla., the bonds and $17 million in cash.
An additional $8.8 million worth of yachts and $2.6 million worth of jewelry are also listed in her name.
Law-enforcement sources said that the asset freeze would be just the first step in a one-two punch against her as prosecutors work furiously to build a criminal case.
More of today's headlines
“New York - Broken bones and black-and-blue marks on the skin are not the only signs of abuse by a husband against his wife; instead, the blows could be delivered to her...”
New York - Husbands Who Use 'Hashem' And Religion As An Excuse To Abuse
Washington - Mortgage Brokers Legislation Moving Ahead
Total20
Read Comments (20) — Post Yours »
1
Mar 15, 2009 at 11:02 AM lavdafka Says:
now , …finally, ..that’s what I’m talking about!
2
Mar 15, 2009 at 11:30 AM vildechaia Says:
I am afraid the u.s. attorney screwed up on this. "Her" assets should have been frozen the moment they indicted her husband.
3
Mar 15, 2009 at 12:17 PM shmuel Says:
of course the screwed up - her money is right where all of ours is now!
4
Mar 15, 2009 at 01:01 PM Anonymous Says:
“ of course the screwed up - her money is right where all of ours is now! ”
Explain your post
5
Mar 15, 2009 at 02:57 PM murray Says:
“ I am afraid the u.s. attorney screwed up on this. "Her" assets should have been frozen the moment they indicted her husband. ”
you have got it all wrong- It is Not her Assets that need to be frozen. It is she herself that needs to be frozen. (she can join Walt Disney).
6
Mar 15, 2009 at 03:13 PM vildechaia Says:
“ you have got it all wrong- It is Not her Assets that need to be frozen. It is she herself that needs to be frozen. (she can join Walt Disney). ”
Oy, you are absolutely right! What was I thinking. Glad you cleared this up!
7
Mar 15, 2009 at 03:41 PM lisa Says:
I'm so taken back by this story. I'm not an investor, nor do I know anyone who invested, but this whole thing is so shocking to me. What was he thinking? And I don't think he acted alone. The wife, the brother, the sons, the neice and her SEC husband all need to be put through the ringer. If I was a Madoff family member who worked for the Madoff fund, I would seriously fear for my life. And yet you see pictures of one of the Madoff sons shopping in Soho with not a care in the world. Is this family insane?? He destroyed the lives of widows, elderly and Holocaust survivors in addition to thousands of others. I'm Jewish and all I can think is that this man brings new meaning to the words "self-hating Jew".
8
Mar 15, 2009 at 06:42 PM samuel Says:
“ Explain your post ”
she already shipped her $$$ to switzerland
9
Mar 15, 2009 at 07:39 PM biz owner Says:
I think she's innocent.. Now don't scream that I'm stupid!! Because most women have no clue what illegal stuff their hubbys commit!!
Does your wife know how you run your business?? My wife does not!!
But I do think his kids knew a lot!
10
Mar 15, 2009 at 07:05 PM from Flatbush Says:
I think that they should put her in jail and freeze her assets as well....mrs. madoff is guilty just as he is....she didn't stop him.....she let him get away with this.....i think he bribed her with all this money to keep her mouth shut....why else don't you think that that she never said anything in the first place.....and I think their kids should go to jail as well....with all that this ganef stole.....where did he hide all of this money.....and him living in an apartment in manhattan.....you would think that he owned palaces in world wide palaces......and having servants and maids galore......goodness, this man was richer than the president......even we good ehrliche yidden know money isn't everything, this man and his family should all go to jail for life and have their assets frozen and all their money should go back to their rightful owners.....with any which any this man made a huge Chillul Hashem and know we hope that Hashem will take care of the rest of this puzzle.....
11
Mar 15, 2009 at 08:56 PM Anonymous Says:
She doesn't have to know his business. The fact is that he gave her the money/property, rather than her having earned it. Since he got the money fraudulently, so did she.
12
Mar 15, 2009 at 10:41 PM cool masmid Says:
“ I think that they should put her in jail and freeze her assets as well....mrs. madoff is guilty just as he is....she didn't stop him.....she let him get away with this.....i think he bribed her with all this money to keep her mouth shut....why else don't you think that that she never said anything in the first place.....and I think their kids should go to jail as well....with all that this ganef stole.....where did he hide all of this money.....and him living in an apartment in manhattan.....you would think that he owned palaces in world wide palaces......and having servants and maids galore......goodness, this man was richer than the president......even we good ehrliche yidden know money isn't everything, this man and his family should all go to jail for life and have their assets frozen and all their money should go back to their rightful owners.....with any which any this man made a huge Chillul Hashem and know we hope that Hashem will take care of the rest of this puzzle..... ”
Since when is a president rich????? I mean if they are it has nothing to do with the presidency.....
13
Mar 15, 2009 at 10:20 PM Kaf Zchus Says:
Most, if not all, of her money is stolen. But that does not make her an accomplice. Quite frankly, it is very possible that she is the biggest victim of his whole scheme. She probably had no idea what he was doing and was just happy to be married to such a smart, intellectual, famous businessman. Sure, she lived a good life for the last 2 decades, but the rest of her life is going to be hell. If I was her, I would be questioning everything my husband ever said or did. Imagine not being able to trust your husband. Imagine finding out that your husband is a ganeff. Imagine having the whole world hating your husband and assuming that you are as guilty as him. Remember, she is not suspected of committing a crime and making such assumptions is unfair and as assur as what he did.
14
Mar 15, 2009 at 10:19 PM Ehrliche Yidden Says:
We think that this whole thing about Mafoff has gotten way out of control. Yes, Mr.Madoff is a Jew, but what he did is a Big Boosha to the Jewish world. He stole So So Much. Where did he put all of that money. We heard that her money was sent to Switzerland. True or not, can't they return that money to the rightful owners? I think Mr. and Mrs. Madoff along with their children should all go to jail. After all, they were all part of Big Bernie's plan. And changing their names will Definately Not help. Because they don't realize that even if you change your name, then they can't change their social security numbers. Well like they say, this Madoff Mishpacha will now see who is Really in charge of their parnassah.
15
Mar 16, 2009 at 07:29 AM Conservative One Says:
As usual the Feds are always a dollar short and a day late. They should have done this right from the start so that some of these investors can get some of their loses back.
16
Mar 16, 2009 at 09:15 AM bnei rachmonim Says:
“ I think she's innocent.. Now don't scream that I'm stupid!! Because most women have no clue what illegal stuff their hubbys commit!!
Does your wife know how you run your business?? My wife does not!!
But I do think his kids knew a lot! ”
I agree with you and all the others who are defending her. She did not knwo anything. They should freeze her assets because it's stolen money but stop sentencing her. poor thing and yes, i mean that both figuratively and practically. as soon as they freeze her money, she is going to be poorer than poor and all because she married a ganef. poor thing.
17
Mar 16, 2009 at 09:12 AM shveig Says:
“ We think that this whole thing about Mafoff has gotten way out of control. Yes, Mr.Madoff is a Jew, but what he did is a Big Boosha to the Jewish world. He stole So So Much. Where did he put all of that money. We heard that her money was sent to Switzerland. True or not, can't they return that money to the rightful owners? I think Mr. and Mrs. Madoff along with their children should all go to jail. After all, they were all part of Big Bernie's plan. And changing their names will Definately Not help. Because they don't realize that even if you change your name, then they can't change their social security numbers. Well like they say, this Madoff Mishpacha will now see who is Really in charge of their parnassah. ”
You think that they should all go to jail? Do you believe in collective punishment?
No where in the Torah does it say that the family of a sinner is punished along with him. You think this is a "big boosha" to us? How about to Mrs. Madoff and the rest of the family? They can't show their faces anywhere. If your spouse was arrested for doing something illegal, (Chas Veshalom) you would be mortified and shamed. The suffering they are going through right now is enough, don't add to it by adding your opinion that " they were all part of his plan" how do you know? If the govt thought so, they would have arrested the others. Maybe they will but until they do, keep your condemnations to yourself.
18
Mar 16, 2009 at 04:36 PM Anonymous Says:
All the assets should be sold and returned to those that lost everything. All the properties, jewelry etc. This family wont know what hit them. Living high on the hog for so many years, on OPM!!!! I don't blame the wife at all. But she will have to contend with living on simpler means after this.
19
Mar 16, 2009 at 07:58 PM things happen Says:
It could happen to every person he really tried hard to survive he did not take more then 10 billion all the rest are profit if the money would be invested in the stock market the loss would off come. 2 months earlier he tried his best and failed like 95 percent of the world. The only difference is he had money from people who are not aloud to take no loss they were considered the self secured they did not realize that has em is in charge
20
Mar 16, 2009 at 11:16 PM Anonymous Says:
“ It could happen to every person he really tried hard to survive he did not take more then 10 billion all the rest are profit if the money would be invested in the stock market the loss would off come. 2 months earlier he tried his best and failed like 95 percent of the world. The only difference is he had money from people who are not aloud to take no loss they were considered the self secured they did not realize that has em is in charge ”
Vos dreisti a cup