Government Seeks to Take Bernie and Ruth Madoff's Assets

[Silverback]

Ruth Madoff, the wife of super scammer Bernie Madoff, had wanted to hold onto her Manhattan penthouse and $62 million while her husband serves his sentence for 11 felony counts, but prosecutors do not intend to allow her to continue her luxurious lifestyle. The government wants to seize the $7 million Upper East Side apartment, as well as the couples' homes in Palm Beach, the Hamptons, and France, according to court filings in district court in New York.

Prosecutors have filed their intent to seek forfeiture of the couples' homes, as well as assets, including their 70 foot yacht, "Bull", four cars including a BMW and two Mercedes, Ruth's Steinway piano (valued at $39,000), and a silverware set (valued at $65,000).

In addition to the homes and valuables, prosecutors will seek to seize the funds in two bank accounts in Ruth Madoff's name. One at Wachovia Bank contains over $17 million according to prosecutors; a second at COHMAD Securities Group containing an estimated $45 million.

Ruth Madoff allegedly withdrew the $10 million from Cohmad the day before she agreed to secure her husband's $10 million bail, according to court filings in Boston. Cohmad is under investigation by Massachusetts authorities for allegedly being a "feeder fund" that steered investors to Bernie Madoff's $50 billion Ponzi scheme. She had withdrawn an additional $5 million just days before.

Full Story

[Silverback]

I am not a proponent of class warfare...but anyone tied to this man and his scheme needs to pay.

[Ranger Ron]

I am not a proponent of class warfare...but anyone tied to this man and his scheme needs to pay.

Do you suppose she thinks that if somebody robs a bank and gets caught that they should be allowed to keep the money??????

[Jim]

The family that steals together needs to pay back together. Take it all -- they're dope dealers, and should be treated as such.

[Ranger Bill]

She should and hopefully will be in jail, too.