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1 Madoff wife's money on Mon Mar 16, 2009 4:17 pm


Prosecutors will seek Madoff's wife's money too
Bookmarks Print By LARRY NEUMEISTER, Associated Press Writer Larry Neumeister, Associated Press Writer 2 hrs 21 mins ago Play Video AP Prosecutors will seek M5

AP Bernard Madoff arrives at Manhattan federal court Thursday, March 12, 2009, in New York. (AP Photo/ Louis NEW YORK Bernard Madoff's wife could theoretically claim more than $100 million in assets and should forfeit it all, according to federal prosecutors.

The move by prosecutors seeks the court's help in recovering $22 million in Madoff properties, all of which are solely in Ruth Madoff's name except for one $3 million property. It also seeks $62 million in cash and securities in her name, $10 million in furnishings in the properties and $10 million for a yacht and other boats.

Madoff, 70, traded his $7 million Manhattan penthouse for a federal lockup on Thursday, immediately after he described how he created a two-decade Ponzi scheme which paid off early investors with proceeds from new investors.

Investors have reacted angrily to previous defense claims that Ruth Madoff is entitled to keep $69 million in assets that are in her name.

Authorities say Madoff notified his 4,800 investors in November that they had nearly $65 billion in assets when there actually was about $1 billion left. He could face up to 150 years in prison when he is sentenced in June.

The assets that the government hopes to seize include four properties, $10 million in home furnishings and a $7 million yacht in France. The court document did not mention $2.6 million in jewelry, but the government did say it would seek forfeiture of "all insured and readily salable personal property" in any of the Madoff properties.

Prosecutors also are seeking the forfeiture of a $39,000 Steinway piano and a $65,000 silverware set kept in the Manhattan penthouse.

Peter Chavkin, a lawyer for Mrs. Madoff, declined to comment.

2 Re: Madoff wife's money on Mon Mar 16, 2009 8:56 pm

rosco 357

i heard about this yesterday, but as i read it , it is on tv Shepard Smith i think is his name, it is on fox, according to ppl on the show, there will be a very uphill thing for her to keep any of this, she would had to have inherited it, or earned it before he did his deed, the feds are going after it, and what all they get goes to the ppl that lost money with him, also, the feds are on their way to Gibraltar,to where he hid millions if not more i forgot the amount in a bank there,, and seeking deposits world wide he may have had,,,take care,

3 Re: Madoff wife's money on Mon Mar 16, 2009 9:38 pm


I am so glad they socked it to that scumbag

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