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Bernie Madoff's wife says swindled investors shouldn't get any of her cash

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  1. #1
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    Bernie Madoff's wife says swindled investors shouldn't get any of her cash






    If it was up to me I'll take all of her money, that family will not get any sympathy from too many people.
    I am surprised he's still alive.

    Why isn't he in prison?

    Bernie Madoff's wife says swindled investors shouldn't get any of her cash


    BY THOMAS ZAMBITO
    DAILY NEWS STAFF WRITER

    Tuesday, March 3rd 2009, 1:07 AM


    Broken victims of her husband's suspected Ponzi scheme are fighting for pennies on the dollar, but Ruth Madoff says $62 million she squirreled away is none of their business.

    Lawyers for accused swindler Bernie Madoff claim the money and a penthouse apartment are his wife's, have nothing to do with any scheme and shouldn't be subject to forfeiture, according to documents filed in Manhattan Federal Court.

    "They maintain that some of the assets ... are unrelated to the alleged Madoff fraud and only Ruth Madoff has a beneficial ownership interest in these assets," wrote Manhattan Federal Judge Louis Stanton on Monday after reviewing the documents.

    Bernie Madoff's lawyers yesterday agreed to lift a freeze on some of the disgraced investment guru's assets so that the trustee hunting for lost Madoff cash can pay back ripped-off customers.

    But the lawyers refused to let go of Ruth Madoff's interest in the E. 64th St. apartment, valued at $7 million, as well as $45 million in municipal bonds controlled by Cohmad Securities and $17 million in a Wachovia account.

    On Feb. 11, a Massachusetts state regulator revealed that Ruth Madoff withdrew some $15 million from a Cohmad Securities account in the weeks and days before her husband's Dec. 11 arrest.

    Cohmad is partially owned by Madoff and regulators claim he paid brokers who raised money for him through Cohmad. Over the past eight years, Madoff's New York investment firm paid Cohmad $67 million, nearly 84% of the firm's income over that period, Massachusetts regulators say.

    Ruth Madoff has never been criminally charged in her husband's alleged fraud, but federal investigators continue to probe others who may have had a hand in a $50 billion Ponzi scheme that's been called the largest in the nation's history.

    In addition to the Manhattan apartment, Ruth Madoff owns a home in Palm Beach, Fla., and the Madoffs share ownership of another home in Montauk, L.I., according to Manhattan federal prosecutors.

    Those properties are secured as part of the $10 million bond package approved by a judge in January. Madoff remains on house arrest with an electronic ankle bracelet.

  2. #2
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    Pig!

    Jails were built for the poor, these white collar criminals just get a slap on the wrist. There is no justice, just a semblance of justice.

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    Quote Originally Posted by IronAddict View Post
    Pig!

    Jails were built for the poor, these white collar criminals just get a slap on the wrist. There is no justice, just a semblance of justice.
    You use a gun to rob someone of $50- and you get sent to jail.
    You steal $50 million from a company-and nothing happens to you.

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    Quote Originally Posted by pyromaniac327 View Post
    You use a gun to rob someone of $50- and you get sent to jail.
    You steal $50 million from a company-and nothing happens to you.
    50 million from a company.... this was $50 billion from investors like this guy who at 90 years old lost all his retirement money and is now working in a grocery store:

    90-year-old Madoff victim back to work - MSN Video

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    I would have never trusted a guy with the name of Madoff, all I would be thinking is someday i might be saying, "Bernie made off with my money, just as I wouldn't trust a cop named Padoff....or a hooker named Bitoff.....
    Coarse edged youth, the irish pendants string from their smiles
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    and drag down the features of age,
    no folds or creases from unkempt wear
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    no sign of despair in their hair, nor their hearts
    but oh they have yet to be experienced and that makes aging so very worth it...ML circa2012

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    Quote Originally Posted by IronAddict View Post
    Pig!

    Jails were built for the poor, these white collar criminals just get a slap on the wrist. There is no justice, just a semblance of justice.
    I don't even see a semblance of justice.
    Fucking Determined!

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    Quote Originally Posted by KelJu View Post
    I don't even see a semblance of justice.
    Yup, these are very, very strange times we're living in.

    All this right in front of our faces, and we can't do a damn thing about it.

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    Quote Originally Posted by maniclion View Post
    I would have never trusted a guy with the name of Madoff, all I would be thinking is someday i might be saying, "Bernie made off with my money, just as I wouldn't trust a cop named Padoff....or a hooker named Bitoff.....

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    Quote Originally Posted by min0 lee View Post
    If it was up to me I'll take all of her money, that family will not get any sympathy from too many people.
    I am surprised he's still alive.

    Why isn't he in prison?

    Bernie Madoff's wife says swindled investors shouldn't get any of her cash


    BY THOMAS ZAMBITO
    DAILY NEWS STAFF WRITER

    Tuesday, March 3rd 2009, 1:07 AM


    Broken victims of her husband's suspected Ponzi scheme are fighting for pennies on the dollar, but Ruth Madoff says $62 million she squirreled away is none of their business.

    Lawyers for accused swindler Bernie Madoff claim the money and a penthouse apartment are his wife's, have nothing to do with any scheme and shouldn't be subject to forfeiture, according to documents filed in Manhattan Federal Court.

    "They maintain that some of the assets ... are unrelated to the alleged Madoff fraud and only Ruth Madoff has a beneficial ownership interest in these assets," wrote Manhattan Federal Judge Louis Stanton on Monday after reviewing the documents.

    Bernie Madoff's lawyers yesterday agreed to lift a freeze on some of the disgraced investment guru's assets so that the trustee hunting for lost Madoff cash can pay back ripped-off customers.

    But the lawyers refused to let go of Ruth Madoff's interest in the E. 64th St. apartment, valued at $7 million, as well as $45 million in municipal bonds controlled by Cohmad Securities and $17 million in a Wachovia account.

    On Feb. 11, a Massachusetts state regulator revealed that Ruth Madoff withdrew some $15 million from a Cohmad Securities account in the weeks and days before her husband's Dec. 11 arrest.

    Cohmad is partially owned by Madoff and regulators claim he paid brokers who raised money for him through Cohmad. Over the past eight years, Madoff's New York investment firm paid Cohmad $67 million, nearly 84% of the firm's income over that period, Massachusetts regulators say.

    Ruth Madoff has never been criminally charged in her husband's alleged fraud, but federal investigators continue to probe others who may have had a hand in a $50 billion Ponzi scheme that's been called the largest in the nation's history.

    In addition to the Manhattan apartment, Ruth Madoff owns a home in Palm Beach, Fla., and the Madoffs share ownership of another home in Montauk, L.I., according to Manhattan federal prosecutors.

    Those properties are secured as part of the $10 million bond package approved by a judge in January. Madoff remains on house arrest with an electronic ankle bracelet.

    so am I...stealing that much money is bound to bring in a criminal response

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