Madoff's wife turfed out of penthouse

3 Jul 2009, 8:08 am   -   Source: AFP/SBS
0 Comments
Share This
+ Comment
0
Bernard Madoff was jailed for 150 years for swindling thousands of people out of their life savings

Bernard Madoff was jailed for 150 years for swindling thousands of people out of their life savings

US authorities have seized the Manhattan penthouse of convicted Wall Street fraudster Bernard Madoff, evicting his wife Ruth.

RELATED

US authorities have seized the Manhattan penthouse of convicted Wall Street fraudster Bernard Madoff, evicting his wife Ruth.

Madoff was jailed for 150 years for masterminding an "extraordinarily evil" multi-billion-dollar investment scam that cheated thousands of people around the world out of their life savings.

"US marshalls went and seized the property," marshall spokeswoman Nikki Credic said on Thursday, as attempts to claw back some of the money swindled by Madoff continued.

Ruth Madoff, who has not been shown to be complicit in her husband's elaborate "Ponzi" scheme, released a statement condemning the former Nasdaq chairman's actions.

Mrs Madoff "voluntarily left" the seven-million-dollar Manhattan suite after officials arrived, Credic said.

On Monday, a New York court ordered Madoff to forfeit more than US$170 billion in illegally obtained assets.
 
In an accompanying order, a district court also stipulated that Ruth Madoff be stripped of US$85 million in assets, leaving her with US$2.5 million in cash.

 

  • Follow us: 
  • Follow us on Facebook
  • Follow us on Twitter
  • Follow us on Youtube

Join the Discussion

Name
City / Suburb E.g. Artarmon, Sydney
Title
Comment
You have characters remaining.
Validation
What's this?
This is a captcha-picture. It is used to prevent mass-access by robots.
All submitted comments become the property of SBS. They are moderated, so we reserve the right to edit comments and remove HTML tags. Not all submitted comments will be published. Publication does not mean we endorse the opinions expressed. Please read our terms and conditions for more information.