Ruth Madoff forfeits asset claims, left with $2.5 million

[Faygo Kid]

Source: Reuters

NEW YORK (Reuters) - Ruth Madoff, the wife of epic swindler Bernard Madoff who reaped billions and a lavish family lifestyle, will be left with $2.5 million and have to look for a new home as she forfeits claim to some $80 million in assets.

Documents filed in Manhattan federal court on Friday night showed that Ruth Madoff, 68, who has said nothing in public about her jailed husband's crimes in the six months since his arrest, had come to an agreement with U.S. prosecutors.

"In compromise of claims Ruth Madoff would have pursued, the Office (U.S. Attorney) will not contest claim to a sum of money equal to $2,500,000, which sum the Office shall cause to be tendered to Ruth Madoff promptly after she vacates the real property and surrenders all personal property," the court order said. . .

Read more: http://www.reuters.com/article/domesticNews/idUSTRE55Q0BF20090627

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*Weep weep sniff sniff* HOW will she live on a lousy $2.5 million? Taco Bell? Value City Furniture?

Leave Ruth Madoff ALONE!

[RandomThoughts]

1. Well society gets to chose on things like that.

but if I had my choice, she should be given the honor and dignity to work at minimum wage as a Wallmart greeter. A small apartment, with just enough money for food and clothing. And an option to enroll in a health care program, like a public option, because nobody, no matter how poor should go without health care.

[napi21]

2. Awe, poor baby. Only $2,5 nill left! I feel so sorry for you!

B! Your still going to live in the lap of luxury. Cry your eyeballs out baby!

[notesdev]

3. "In compromise to claims"???

What the hell kind of claim can a thief have to the proceeds of the theft?

That US Attorney, whoever it is, ought to be fired for gross incompetence.

[ddiver]

4. The elite monarchy class never do prison time. She only gets what would be a lottery winning 4 us.

[cali]

7. uh, her husband's in prison.

and I take some satisfaction in knowing that Ruth is essentially broke. Yes, essentially broke. 2.5 million won't go very far for her.

[ddiver]

9. Oh , to be left with 2.5 million dollars.

[Iowa]

20. Nah, she isn't "essentially broke".

She's set for life. 2.5 million will generate an income of $100,000 per year (with raises for inflation) for the rest of her life. That's a considerable fortune. Anyone who can live comfortably for the rest of his/her life, without working, is wealthy.

[960]

22. Oh gad. We know you're a jet set millionaire who hangs with the Kennedys, but

get real. If 2.5M leaves one broke, they have issues.

[daleo]

25. Too true and well put. n/t

[lindisfarne]

5. It's probably what criminally prosecuting her would have come to. But minimum wage, budgeting,

and cutting pills in half is what she deserves.
It's more than some of Madoff's victims have currently (although they were really stupid to put all their money in one basket).

[Celebration]

12. he required it, Madoff was really SICK n/t

[RUMMYisFROSTED]

23. "...cutting pills in half..."

+1

[pinniped]

6. We all should've known there was no way the inept/crooked prosecutors....

would drain her bank account.

[DeSwiss]

8. I'm sure she'll be able....

...to get good advice for investing the money she has left.



K&R

[ProudDad]

28. I'm sure this guy would be happy to help...

http://cbs4denver.com/national/r.allen.stanford.2.1058773.html

http://www.nydailynews.com/money/2009/06/20/2009-06-20_texas_tycoon_allen_stanford_indicted_in_7b_ponzi_swindle.html

[indepat]

10. Kick to greatest page so more will see how some are sometimes left with only a minor portion of

their ill-gotten gains. No matter how much personal wealth poor Ruth might have had, it's a fairly good bet that their lavish lifestyles, made possible through defrauding others, had eaten up far more resources than her personal wealth and, should that be the case, that $2.5 million is courtesy of their defrauded victims. You go Ruth: have a great remaining life. thanks to your victims. :P

[corpseratemedia]

11. she'll have to live like us in order to keep that 2.5 million from disappearing

double-coupon wednesdays are your friend, criminal witch Madoff

[JI7]

29. she could still live a lot better than us with that much

but she is probably the type that will just feel sorry for herself for being so "poor".

[Warren Stupidity]

13. WTF? nt.

[cindyperry]

14. Poor thing how will

she live. Those rotten Feds taking all of her hard earned stolen money

[angrycarpenter]

15. She has to have more stashed.

Rich thieves always hide money. Of course she would have to flee the country for good to use those offshore accounts.

[WestSeattle2]

16. $2.5m? My ass. There are millions unaccounted for...

That woman will never have to subsist on $2.5m. Hell, she probably has ten times that stashed in just one of their hidden bank deposit boxes. They bought a lot of jewelry over the years, there is no way to identify and account for all of it.

[sarcasmo]

17. One of the many families should go after that 2.5 that is left, this women deserves to be Poor.

[No Elephants]

18. I'd be willing to bet my own money that she has many multiples of $2.5 million

[BumRushDaShow]

19. Once she blows through that, she'll go live with her wealthy sons. n/t

[bc3000]

21. Why is she left with ANYTHING?!

Can she prove earnings worth $2.5 million? All of her money is stolen. It should ALL be returned.

If any of us received stolen money/merchandise, they wouldn't let us keep a little of it.

[depakid]

27. No one else in remotely similar circumstances would be

[Vinca]

24. I bet the formerly retired Walmart greeters are happy as a clam about this.

[AlphaCentauri]

26. there is plenty of people who deserves 2.5 millions

she already used her part

[Clintonista2]

30. they probably have an offshore account