"Lawyers for Bernard L. Madoff have asked that prosecutors be barred from seizing the New York City apartment of the Madoffs and $62 million in bonds and cash that they say belong to Mr. Madoff’s wife, Ruth, and “are unrelated to the alleged Madoff fraud.”
The request was acknowledged, but not granted, in court documents filed on Monday both by federal prosecutors and the trustee overseeing the liquidation of Mr. Madoff’s estate for the benefit of his former customers." -NY Times
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http://www.nytimes.com/2009/03/03/business/03madoff.html?_r=1 "Secretary of State William Galvin said Ruth Madoff, 67, withdrew $5.5 million on Nov. 25 and $10 million on Dec. 10 _ the day before Bernard Madoff was arrested _ from Cohmad Securities Corp., a New York firm co-owned by her husband.
..They also appeared to follow what authorities consider a disturbing trend on the part of the Madoffs to hide money that could be used to reimburse burned investors.
Prosecutors have already said investigators found 100 signed checks worth $173 million that Madoff was ready to send out to his closest family and friends at the time of his arrest in December. Two weeks later, during the Christmas holidays, Madoff sent more than $1 million in jewelry and heirlooms to family and friends." -Huff Post
http://www.huffingtonpost.com/2009/02/11/ruth-madoff-withdrew-155_n_166019.htmlI seem to have a slightly different opinion about the Madoff scandal than my friends and peers, so let me quickly share my opinion. I feel for those who lost money, of course, though I do think they share some of the blame. If you are investing money, particularly large sums of money, it is your responsibility to know where and how your money is being invested. Madoff's clients were always making money, at least on paper, and because of that they never looked closely enough. And they are paying for it.
Now, Madoff himself. He and his entire operation personify the worst of American business at the turn of the century. He is clearly unrepentant. He acted for himself and his family, with no regard for others. He's likely covered his tracks enough to protect his sons, who I have no doubt were involved, or at least greatly benefited. I'm an advocate for compassion, and though I think compassion should not be let go, Madoff and his family should all be in jail, or at least forced to live destitute. If our society is unable to offer this sort of justice, than something is deeply off balance. He is hardly on death's door, but he is still old enough that he can justify his actions to himself as having made a good run of it. Don't let him get away with it! When so many people are suffering, how are we letting this greedy man and his wife retain their assets and apartments? I don't care if he posted 100 million dollars for bail, that is dirty money, and he can't be allowed to buy his way out. He belongs in a cell. Let's hope the judges act justly.
http://wcbstv.com/business/bernard.madoff.ruth.2.948636.html
http://www.bloomberg.com/apps/news?pid=20601087&sid=a2_7qBYOay6w&refer=home
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