Ruth Madoff -- The horrors of living on $2.5 million

By Jake on
Ruth Madoff, wife of convicted fraudster Bernie Madoff, has been given a lump sum payment of $2.5 million to live on in a settlement with the Justice Department.Assuming she invests wisely (by say, not getting invovled in massive Ponzi scheme like her husband ran), she should be able to eke out a living at $125,000 in investment income a year.From an article at the Wall Street Journal: How tough is it living off $2.5 million? Ruth Madoff is about to find out. Bernie Madoff's wife has been...Read Full Story

Madoff's Wife Withdrew $15.5 Million Shortly Before Arrest

By JJ Duncan on
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 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...Read Full Story