Bernie Madoff's wife protecting their assets
Filed under: Ripoffs and Scams, Wealth
If you're going to get caught running the largest Ponzi scheme ever, then I suppose it's a good idea to hide your money. No sense in letting the government seize any of that money and give it back to its rightful owners. Nope. Hide the ill-gotten gains before you tip anyone off.That may be exactly what Bernie Madoff's wife might have been doing before he was arrested. Ruth Madoff apparently withdrew $5.5 million from an account on November 25, and another $10 million on December 10. Bernie is apparently trying to paint a picture that he alone was responsible for the Ponzi scheme, but these acts by his wife might point to active involvement on her part.
This story just keeps getting better, doesn't it? The fraud itself is bad enough. Then we find out that he was sending valuables to people after his arrest. Now we find out that money was probably being hidden before his arrest. I don't know why I'm even surprised at any of this. I bet there are going to be plenty of interesting tidbits about the Madoff family surfacing over the next year or two.
Reader Comments (Page 1 of 1)
2-12-2009 @ 7:35PM
RateNerd said...
How is it possible that this guy is not in jail? How can he still be living in his apartment in Manhattan? Unbelievable! http://www.ratenerd.com
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2-12-2009 @ 11:40PM
Hermann said...
If he receives more than a token fine (paid from what 'funds'?) and/or, subject to his lifespan, completes more than seven years jail time, you can call me Meyer!
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2-13-2009 @ 5:17AM
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2-16-2009 @ 11:44AM
steelermom said...
In 2005, some Wall Street executives doubted Madoff, but kept quiet. If they had spoken up, a lot of people could have been saved from this: http://www.newsinferno.com/archives/4750#more-4750
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2-27-2009 @ 2:33PM
Ernest mitchell said...
Watch out for interstate Gas Co. don't lock in at fix gas rate -it will take 2-billing cycles before you cancell out and the rate of gas can drop and you are stuck with a higher fix rate also a cancellation fee.they got me over the winter.
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