Ruth Madoff

Ruth Madoff is the wife of Bernard Madoff, president of the Bernard L. Madoff Investment Securities financial advisory firm, who was arrested in December 2008 for securities fraud and placed under house arrest. Ruth Madoff has not been charged with any crime, but she was ordered to surrender her passport on December 16, 2008.Bloomberg.com: Madoff Ordered to House Arrest... (December 17, 2008)

Madoff was sentenced to 150 years in prison on June 29, 2009. Ruth Madoff issued a statement after the sentencing. http://www.bloomberg.com/apps/news?pid=20601087&sid=agYttTlCfp84

Despite claims to the contrary, investigators found that Ruth Madoff had maintained an account which mixed personal and fund monies.Gawker: Bernie Madoff had help... (January 27, 2009) On February 11, 2009, investigators said Ruth Madoff had withdrawn more than $15 million from a brokerage account co-owned by her husband in the weeks before Bernard Madoff was arrested.Bloomberg.com: Madoff's Wife Withdrew $15.5 Million, State Claims (February 11, 2009)

The SEC, in conjunction with prosecutors in New York City, are hoping a judge will freeze Ruth Madoff's assets following the conviction of her husband on 11 criminal counts on March 12, 2009. It is believed that as much as $93 million may be stashed away in Ruth Madoff's name that's presently out of the reach of federal authorities, which she could theoretically access should she leave the U.S.New York Post: Feds 'Working Around the Clock' to Freeze Assets of Ruth Madoff (March 15, 2009)

Ruth Madoff's husband, Bernard Madoff, was arrested in December 2008 for securities fraud and placed under house arrest. Bernard Madoff is accused of being involved in a Ponzi Scheme which allegedly caused investors, including businesses, charities and banks, to lose $50 billion. Ruth Madoff has not been charged with any crime, but she was ordered to surrender her passport on December 16, 2008.Bloomberg.com: Madoff Ordered to House Arrest... (December 17, 2008) Madoff verbally agreed to freeze her assets following her husband's confession, but such an agreement is not legally binding.New York Post: Feds 'Working Around the Clock' to Freeze Assets of Ruth Madoff (March 15, 2009)

After Madoff's sentencing on June 29, 2009, Mrs. Madoff issued the following statement: "I am breaking my silence now because my reluctance to speak has been interpreted as indifference or lack of sympathy for the victims of my husband Bernie’s crime, which is exactly the opposite of the truth. From the moment I learned from my husband that he had committed an enormous fraud, I have had two thoughts -- first, that so many people who trusted him would be ruined financially and emotionally, and second, that my life with the man I have known for over 50 years was over."http://www.bloomberg.com/apps/news?pid=20601087&sid=agYttTlCfp84