Federal Prosecutors Seek Asset Freeze for Ruth Madoff
March 15th, 2009 at 7:02 pm - by admin
Investigators in the Madoff case spoke anonymously to the New York Post Sunday, saying that they would be seeking to freeze the assets of Bernard Madoff’s wife, Ruth, who filed a motion at the beginning of the month to keep, specifically, their $7 million penthouse and $62 million in other assets.
According to the Post’s sources, fears that the wife may flee have encouraged the federal investigators to seek a motion to freeze the assets; a total of roughly $93 million. Furthermore, law enforcement officials may be seeking a criminal case against Ruth, citing involvement in the largest case of financial fraud in history.
Thus far, Ruth has been seen to have no formal connection to Bernard Madoff Investment Securities or the fraud the company was involved in.
The S.E.C. responded to the claims, telling the Post that attorneys are preparing the case for an asset freeze, and should be ready to argue that they are ill-gotten gains within the week. Ruth, however, has already voluntarily agreed to a freeze.
Bernard and Ruth have been married for 50 years.

