It appears that, despite the extensive litigation over assets seized by the U.S. government to pay victims of Bernard Madoff, Ruth Madoff had one more claim to make before being kicked out of her $7 million Manhattan home — her fur coat. While it is the dead of summer, Madoff insisted that she wanted to leave with the coat but the Marshals made her surrender the coat as part of the assets of estate.
Madoff reportedly wanted to stay in the home but was forced to leave with what is described as a straw bag. Ruth Madoff agreed to give up all of the property except $2.5 million. Many victims who lost their savings and homes are upset with the arrangement and felt that Ruth should not be left a millionaire. However, it is possible for that remaining money could be sought in civil actions.
Of course, now she has PETA and not just prosecutors made at her.
What was most amazing was a statement from Ruth Madoff after her husband’s statement before sentencing. She insisted that the statement “stunned us all with his confession and is responsible for this terrible situation in which so many now find themselves.”
“Stunned us all”? Hmmm, his sons and associates work with a man running a multi-billion Ponzi scheme for years. The newspapers and court then details how he shifted money to sustain the criminal enterprise — losing the money of thousands. However, she and her family were still able to feign a perfect Claude Reins “I’m shocked, shocked” moment.
For future reference, this clip may help Ruth in maintaining the appearance of utter surprise:
For the story, click here.
“Her other houses in Palm Beach and the Hamptons have been seized, along with four yachts, two Mercedes Benzes, two minks and $2.6 million in jewelry”
http://www.nydailynews.com/money/2009/07/02/2009-07-02_ruth_madoff_wife_of_ponzi_swindler_bernie_madoff_gets_boosted_from_swanky_nyc_pe.html
Are we to seriously believe there aren’t accounts in the Caymens or Israel that will help “buffer the bow” she has suffered? This may sound obvious, but criminals are not to be trusted!
From what I understand she had her own nest egg of family money before this stuff happened.
rofl
Nice choice in clips, Prof. That’s a gem.
Yo, Ruthie. Wasn’t that you that took Ten Mill out of Cohmad the day before the whole thing caved? Just following orders? Where is it? Don’t know nuthin? Tell it to the judge.
yes hidflect,
but it’s so difficult to hide one’s furs in the Caymens. It was probably a fake fur anyways so at least PETA can’t get her. I agree mr. ed, they stashed the money all over the place. And that might be a bad thing for someone who has a long list of wealthy clientel who’ve been hiding their own money for years. They’ll know where to look for the bodies.
Ruthie and the kids have more stashed away than we might imagine. I still believe that Bernie’s confession was exchanged for an agreement not to indict Ruth and his kids. If so it was a poor deal the government made.
“Ruthie and the kids have more stashed away than we might imagine.”
Which brings up a good point.
Did anyone check the lining of that coat?
Can I suggest a straight swap. She could always start a new career as a florist…
Wonderful clip, but I like this one too: “You despise me don’t you, Rick? Well if I gave you any thought I might.”