From search.msn.com
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Ruth Madoff
Ruth Madoff is the wife of New York investor Bernard Madoff, who has been accused of running a $50 billion ponzi scheme.
Accused $50 billion swindler Bernard Madoff (R) arrives for federal court January 14, 2009 in New York City. U.S. prosecutors want to end his house arrest at his luxury apartment and toss him in jail for violating a court order. Madoff is accused of running a $50 billion Ponzi scheme through his investment company. (Photo by Mario Tama/Getty Images)more pics »In a new development in the scandal surrounding Bernard Madoff, it turns out his wife might have been helping him to stash money -- a lot of money -- before he was found out by authorities.
Ruth Madoff on right (click for full size)Ruth Madoff made two major withdrawals from Madoff-related accounts shortly before news of her husband's "giant ponzi scheme" became common knowledge. How much is major? Bigger than any withdrawal you'll ever make. On Nov. 25, 2008, Mrs. Madoff picked up $5.5 million and on Dec. 10, (the day before Bernie was arrested) she withdrew $10 million.
Authorities suspect the couple are still trying to hide assets pending Madoff's pending trial. The uber-rich schemer is currently on house arrest in Manhattan.
More from CNN:
He faces one charge of securities fraud in connection with an international scheme that has cost some investors their life savings and could face up to 20 years in prison and a $5 million fine if convicted.
In January, prosecutors tried to revoke his $10 million bail after he mailed more than $1 million worth of diamond-studded jewelry to friends and family, a move they said showed he was trying to move assets out of government hands. But a judge ruled Madoff was neither a danger to the community nor a flight risk. Not a flight risk? With his kind of money, if I were facing 20 years in prison, you can bet I'd be a flight risk.
new yORK (Bloomberg) — UBS AG and Ernst & Young LLP said Luxembourg lawsuits filed by investors who lost millions of dollars in mutual funds linked to Bernard Madoff's Ponzi scheme are invalid and should be thrown out. Private and institutional ...
- UBS, Ernst & Young Call Claims in Madoff Case ‘Vague’ (search.msn.com)
- UBS Calls Investor Claims in Luxembourg Madoff Case ‘Vague’ (search.msn.com)
- UBS, E&Y face Luxembourg test cases over Madoff funds (search.msn.com)
BRUSSELS, Nov 25 (Reuters) - A Luxembourg court launched a case on Wednesday to determine whether investors who lost money to Wall Street swindler Bernard Madoff can seek compensation from Swiss bank UBS , a spokesman for the court said. The court's ...
From search.msn.com
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- Madoff victim loses a round in court (syndication.boston.com)
- Buyer pays $14,500 for Madoff jacket (washingtontimes.com)
- Madoff's Boats, Car Hit The Auction Block (cbs4.com)
Proxibid, the world’s largest provider of live auction webcasting services, today announced that more than 57 percent of items from its live webcast of the Gaston & Sheehan U.S. Marshals Service National Jewelry Auction sold to online bidders. This auction included 189 lots of items previously owned by Bernard and Ruth Madoff, of which 47 percent sold to online bidders via Proxibid.
From centredaily.com
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- CIRCA Places Winning Bid for Madoff-Owned Bracelet (rss.prnewswire.com)
A representative of Gaston & Sheehan shows off some of Ruth Madoff's gently used purses.
Over at the Sheraton Towers in midtown today, assorted tourists and gawkers were checking out a preview of the auction of belongings the U.S. Marshals had seized from the estate of Bernard Madoff, which will be officially for sale at 10 a.m. tomorrow. The bulk of the things on offer is jewelry belonging to Ruth Madoff, and the Ponzi schemer's famed...
From nymag.com
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- Boating With Bernie: Madoff's Yachts (story.indiagazette.com)
- Gawkers flock to buy Bernie Madoff trinkets at auction of Wall Street... (search.live.com)
A small fleet of powerboats owned by the convicted fraudster Bernard Madoff and his associates fetched almost $2 million ($£1.2 million) at an auction in Florida overnight, which was held to raise cash for the thousands of victims of his $65 billion Ponzi scheme.$
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From timesonline.co.uk
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Some of the personal items seized by Federal Marshals in the Bernard Madoff Ponzi scheme fiasco were auctioned yesterday, bringing in about $1-million dollars, twice as much as originally estimated. Ruth Madoff's diamond pendant earrings fetched $70,000 -- three times the expected amount. A pair of Cartier onyx and diamond earrings brought the same price. Several other pieces of jewelry formerly owned by Madoff and his wife did well, but bids...
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From z.about.com
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FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Bidders paid a total of $2.021 million in an auction held by National Liquidators of three vessels previously owned by Bernard Madoff, a yacht belonging to Frank DiPasquali, Madoff’s former CFO, and a Mercedes Benz convertible formerly owned by Ruth Madoff. The auction was held at National Liquidators’ marina in Fort Lauderdale, Florida. National Liquidators is one of the nation’s largest boat recovery...
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From businesswire.com
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NEW YORK - Irving Picard, the liquidator for Bernard Madoff’s investment advisory business, asked a judge to approve $22.1 million in fees for him and his team with the law firm Baker & Hostetler LLP for five months of work on the case.
From syndication.boston.com
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- Madoff's Debts Still Snowballing (luxist.com)
Jerome O'Hara and George Perez were more than happy to generate false records concealing Bernard Madoff's ridiculous Ponzi scheme until the crap hit the fan. They took hush money at that point, but I doubt that'll comfort them in prison. The pair supposedly had an eventual "crisis of conscience" and told Madoff that they would no longer lie for him. Of course, somehow their personal Jiminy Cricket crisis urged them to delete nearly all the...
From gizmodo.com
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- 2 charged with cooking books for Madoff (sfgate.com)
According to reports, the FBI has arrested two former computer programmers for Bernard Madoff’s investment firm on charges they falsified records.
Jerome O’Hara and George Perez were arrested Friday at their homes
The U.S. attorney’s office in Manhattan says the pair formerly worked for Bernard L. Madoff Investment Securities.
“Without the help of O’Hara and Perez, the Madoff [...]
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From overthelimit.info
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Mark Madoff and the Nantucket house at 51 Wanoma WayThe beach house in Montauk found a buyer quickly, and for more than its list price. Now, as the investigation into the fraud run by Bernard Madoff expands to include his family members, some are wondering what will become of son Mark Madoff’s getaway on Nantucket, a well-heeled resort island off the Massachusetts coast. The five-bedroom waterfront home is not yet on the market, Nantucket...
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From feedburner.com
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NEW YORK -- Items once belonging to Wall Street swindler Bernard Madoff (MAY'-dawf) and his wife have fetched as much as 20 times their estimated value at a New York City auction. The fallen financier's blue satin New York Mets baseball jacket with ...
From search.live.com
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- Madoff's Mets jacket sells for $14,500 (rss.msnbc.msn.com)
- Madoff yachts net two million dollars at auction (news.google.com)
VIRGINIA BEACH
Bernard Madoff raised billions of dollars for his long-running Ponzi scheme from acquaintances in the New York City area and south Florida. Billions more poured in from an assortment of "feeder funds," including some at Fairfield Greenwich Group.
From hamptonroads.com
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- Financial advisor Stanley Chais sued in Bernard Madoff scheme (news.google.com)
WASHINGTON - Two former computer programmers who allegedly helped jailed financier Bernard Madoff orchestrate a massive 65- billion-dollar fraud were arrested Friday and charged with conspiracy.
Jerome O'Hara, 46, and George Perez, 43, allegedly created and ran programmes that falsified records and accounting for Madoff's firm, Bernard L Madoff Investment Securities LLC....
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From hispanicbusiness.com
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An auction of luxury goods that once belonged to imprisoned financier Bernie Madoff and an adviser has raised more than a million dollars. Bernard Madoff's yacht "Bull," two smaller boats and a Mercedes-Benz convertible were auctioned Tuesday in Fort Lauderdale.
From cbs4.com
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- Madoff auction nets $2M (bizjournals.com)
