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

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

The Road To Tax Alpha

May 28 2015 | 5:36am ET

Tax-related alerts are increasingly helping investment managers harvest tax alpha...

 

Sponsored Content

Editor's Note