Wall Street Manna

An irreverent look at Wall Street

Saturday, June 27, 2009

Madoff's wife gives up assets

Monday, Bernie Madoff gets sentenced, so his wife, cut a deal with prosecutors to give up $80 million of assets before the big day. She gets to keep $2.5 million, and SIPC won't have to fund her loss.

Ruth Madoff, the wife of one of the most reviled swindlers in history, has agreed to give up her potential claim to more than $80 million worth of assets, keeping just $2.5 million in cash in an agreement reached with federal prosecutors.

The settlement with the U.S. attorney's office in Manhattan was approved late Friday by U.S. District Court Judge Denny Chin, who is scheduled to sentence her husband, Bernard Madoff, on Monday in a final courtroom stand that will seal his legacy as one of the world's most successful thieves.

1 Comments:

At March 27, 2019 at 3:26 AM , Blogger eve green said...

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Entertainment Unit

 

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