Report: Ruth Madoff Agrees To Forfeit $80M

Shutterstock.com

The wife of disgraced financier Bernard Madoff is reported to have given up her claim to more than $80 million in property whose forfeiture is being sought in the case against him, the Wall Street Journal has reported.

Under a preliminary court order issued Friday, the Madoffs are to forfeit interests in $171 billion in assets, including properties belonging to them, including homes in Manhattan, Montauk, N.Y., and Palm Beach, Fla., worth a total of nearly $22 million.

The judge's order authorized the U.S. Marshals Service to sell the properties, along with certain cars and boats.

The Madoffs must also forfeit all insured or salable personal property contained in the homes.

Other seized assets include accounts at Cohmad Securities Corp., valued at almost $50 million, and at Wachovia Bank, valued at just over $13 million, and tens of millions of dollars in loans extended by Madoff to family, employees and friends.

Prosecutors said, under the arrangement, the government obtained Ruth Madoff's interest in all property, including more than $80 million worth of real estate, jewelry and cash assets that she had claimed was hers.

The order left her $2.5 million in assets, which the Order stated will be tendered to her once she vacates the real property and surrenders all personal property.

Ruth Madoff was not charged in the case against her husband. She is not expected to be present at frederal court in Manhattan on Monday when Judge Denny Chin announces the sentence against the financier.

[ksmit2]

We all agree, Madoff is SUPER SLEAZE. But what's with the "hey stupid",
"moron", and other stuff on here aimed at people who share a comment or
opinion. I like the idea of Madoff having to work and live on minimum wage
the rest of his life. The ACLU would probably get the sentence thrown out.
My second favorite idea would be to send him to Singapore or China, with a
request to "rehabilitate" him. That would be a hoot. I'm sure that they
could come up with a creative consequence.

[scabbard2]

What about the taxes?? Who is paying the taxes??

[babooph]

She claimed 90 million ,so is she keeping 10 so she will not be broke,like so many they swindled-is this hush $ for not exposing the political big shots in on the scam ?

[ArmandB]

She should be in a cell along with the rest of the family that worked with them. They all had to know that they weren't buying stocks but were collecting billions.

[850Rick]

She should lose everything too. She knew full well about his doings and benefited from them. She should go to jail too.

[vuenbelvue]

Another example of justice taking care of the elite. The sons put the Miami estates in their wives names who immediately paid the lawyers to have the real estate Homesteaded. Under Florida law, creditors cannot touch it. That is how OJ Simpson kept the Florida house. I agree with the comments above. Everyone, everyone in that immediate family knew this was a scam. Now everyone but the court system knows everyone in the family knew it was a scam.
The South Carolina Governor is now the newest in line unable to understand that he was morally, ethically and most likely illegal in his 8 year affair with a Argentine tripe. How many South Carolina tax dollars were spent for flights, hotels, entertainment, fuel, flowers, clothes, jewelry and staff over 8 years to hide and promote his side line love affair. The govenor and the party elite want to hang on to the seat just like the judge in the Mrs. Madoff case wants to ignore her guilt.

[pvperson3]

Why isn't this thief in jail?

[demotwit_n]

'Why does she get to keep 2.5 million?'
Because her gender is female.
Put the shoe on the other foot of gender ''equality''.
If Ruth was the Ponzi scheme perpetrator,
and Bernard was the ''oblivious'' spouse along for the ride,
he would not get one - red - cent.

[nocroman]

Madoff should not be sent to prison. He should be made to work at a minimum wage job at minimum wage for the rest of his life. He should have to live in housing he can afford on his minimum wage and eat only the food he can afford on minimum wage. He shoul dbe tethered and have a security pfficer guarding him 24/7 to make sure he complies with the terms of his punishment. All visits from his wife can only be at his residence and refreshments must be what he pays for on his wages. Officers will check any visitors to make sure he recieves no help. Making him live as one of the poor in this country will be a better punichment than letting him have good food and possibly get over while in prison or be treated as a hero in prison for screwing the man at his own game.

[bigreddog222]

She probably couldn't even say
"Would you like fries with that?"

She probably has someone wipe her arse because doing it herself is below her.

[riob678]

As fast as Ruthie goes through money, it won't be very long until we hear her as about the fries.