Report: Ruth Madoff Won’t Be Criminally Charged

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.

RELATED ARTICLES:

SPECIAL COVERAGE: The Bernard Madoff Scandal


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note