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: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...