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February 11, 2009

Ruth Madoff Withdrew $15.5 Million in Funds

Though she has not been charged with any wrongdoing related to her husband's $50 billion Ponzi scheme, Ruth Madoff withdrew $15 million the day before Bernard Madoff's arrest, the New York Times and  Gawker are reporting.

According to the complaint filed Wednesday, Ruth Madoff pulled out $5.5 million on November 25 and another $10 million on December 10, the day that Bernie Madoff confessed his $50 billion Ponzi scheme to their sons, who both worked at his securities firm. He was arrested the next day. Ruth Madoff and her brother-in-law, Peter Madoff, posted $10 million in bail — which suggests that she might have used some of the money she withdrew the day of his confession to keep her husband out of jail. She also ran the numbers for the firm. Government officials investigating the case have not charged her with anything, but they have taken away her passport as a possible flight risk.

Posted at 02:20 PM |

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HeatherErin

She must have spent some of it getting that bad face-work done. Sheesh.

She needs to stand up before the judge, y'know?

Posted by: HeatherErin | February 12, 2009 at 06:44 PM

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