Wednesday, 7 October 2015
Last updated 10 hours ago
Jul 2 2009 | 3:52am ET
While more indictments are expected in the Bernard Madoff Ponzi scheme case, the convicted fraudster’s wife will apparently be spared.
Ruth Madoff, who last week struck a deal with prosecutors allowing her to keep $2.5 million in cash in exchange for her forfeiting claims to more than $80 million in assets, will not be criminally charged, at least for the time being. The probe of her husband’s $65 billion Ponzi scheme has not uncovered any physical evidence that Ruth Madoff either participated in or concealed the scam, the New York Post reports.
The 68-year-old has denied any involvement in her husband’s crimes, and said after he was sentenced to 150 years in prison this week, said she was “betrayed and confused” by his actions.
While there appears to be insufficient evidence to charge his wife, investigators do not believe that Bernard Madoff acted alone and are still probing whether other family members or associates helped him run the massive fraud. According to the Associated Press, at least 10 other criminal indictments are likely in the case.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…