Luxe Life

Feds Seek to Seize Ruth Madoff's Assets

By Kimberly Castro

Posted: March 16, 2009

Federal prosecutors want disgraced financier Bernard Madoff and his wife to forfeit more than $90 million worth of assets, including homes, boats, cars, and securities. A filing in a U.S. district court in New York on Sunday outlined several fixed and liquid assets ordered seized by prosecutors:

With the exception of the Long Island home, all of the properties—as well as the cash and securities—are solely in Ruth Madoff's name.

Ruth Madoff

Ruth is the type of person who cares little about you or me.

Right now she is trying to hold on to whatever she can, but the fact that she is not really fighting that hard to stop all the forfeitures means that over the years a lot of cash has been " stashed away" a million dollars in 100 dollar bills cast can be carried very comfortably in a knapsack.

so.. yes, the government can see all the traceable money, but Ruth is a "sociopath"

I would have "cash" not in any bank , just pure cash or gold

in a nice secure spot, safe deposit box/ bus station locker/ i thinks its important that only she knows where it is,

yes, you will see complete "forfeiture" on all visible assets, but its the "hidden" assets that she has,

I have a feeling a lot of people will be watching her very closely for the rest of her life, trying to find out where the money is.

you have to remember, if this happened to you what would you do if you had a little time to hide some money??? yup, cash / bearer bonds (the best )

yes, she is hiding it somewhere, she does not seem to be too worried about the main stuff.

Imma Knutt of ID @ Apr 17, 2009 02:56:44 AM

She should volunteer to "give it up"

If Ruth Madoff had any concerns or remorse of what her husband, sons, many family members and last but not least herself, she should return all assets as a good will gesture.

Having friends that, may have been foolish, to put all their eggs in one basket, but did, has kept us angry and hoping to see what now looks like will become revenge. "U sat an eye for an eye."

Ask yourself, "Why were yachts and boats hidden in Ft. Lauderdale and in a warehouse in Palm City?" Wouldn't you as a wife ask that question to your husband and sons?

If our boats disapeared, hidden away, I would want to know where they had gone.

Ruth, get real, why should you live in your lofty perch, your sons in their own mansions, have unlimited spending power, when so many have suffered at your hands too?

Trish of FL @ Apr 02, 2009 09:28:25 AM

Go get 'em DOJ!

Any assets accumulated through illegal means (like a Ponzi scheme - fraud) are ill-gotten goods and subject to seizure, along with fines and prison time for unpaid taxes. Were stolen goods to be sold to unwitting buyers, the property would have to be returned to the lawful owners and criminal procedings would be pursued against the sellers of stolen items. Knowing buyers of stolen merchandise are also subject to prosecution. How deeply was Madoff's entire family involved, only the DOJ will be able to figure that out. Since Madoff's wife didn't work, then all of their joint assets must have been the result of fraud, and thus must all be forfeited to the government in trust for the victims. Now, if Madoff was paying 10% return per year, where's the 90% stashed away? In Switzerland, Litchenstein, Bahamas, or with the Bank of England owned by the Rothschilds?

Tony Lee of CA @ Mar 16, 2009 15:49:43 PM

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Luxe Life

Luxury is no longer the sole province of the elite. Upscale goods and services now target a much broader market. Kimberly Castro, deputy business editor of U.S.News & World Report, takes a look at the luxe life, from fine wines and cars to high-end real estate and wealth management. Though no elitist, Kim does admit a fondness for a bold bottle of Scout's Honor from Venge Vineyards and satiating her wanderlust in Europe.

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