madoff's wife gets 2.5 million
wow, what is wrong with the government
i am sure this witch cannot prove she earned that money
Madoff Homes to Be Sold, Wife Forfeits Most of Her Claims
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By David Glovin and Thom Weidlich
June 27 (Bloomberg) -- Bernard Madoff’s houses in Palm Beach, Florida, and Montauk on the east end of New York’s Long Island as well as his Manhattan apartment will be sold by U.S. marshals under a ruling by Denny Chin, the federal judge scheduled to sentence him on June 29.
Madoff approved an agreement with prosecutors and he and his wife, Ruth, agreed to sell the properties to raise money to pay back victims of his $65 billion Ponzi scheme, the biggest in history. The orders don’t require Ruth Madoff to leave the couple’s apartment at 133 East 64th St. in Manhattan before the sale. Bernard Madoff has been incarcerated at a federal jail in New York since pleading guilty in March.
Chin’s order requires Madoff to forfeit $170 billion, eliminating his interest in all real estate, investments and other property, according to a statement yesterday by Acting U.S. Attorney Lev Dassin in Manhattan.
Ruth Madoff will retain $2.5 million while giving up her claims to more than $80 million in assets under an agreement approved by Chin, prosecutors said. She has said she had $45 million in bonds and $17 million in cash that were “unrelated” to her husband’s scheme.
Ira Sorkin, the lawyer for Bernard Madoff, said the documents speak for themselves. Peter Chavkin, the lawyer for Ruth Madoff, didn’t immediately return a call seeking comment yesterday.
Bernard Madoff pleaded guilty in March 12 to federal charges that he used funds from new investors to pay off other clients in the Ponzi scheme. His customers were told they had as much as $65 billion in the weeks before the fraud came to light.
Cars, Boats, Piano
Madoff will also sell Mercedes-Benz and Volkswagen automobiles, boats and trailers by Chin’s order. Also to be sold are his $39,000 Steinway piano and $65,000 worth of silverware, now located in the Manhattan apartment.
Prosecutors have identified 1,341 Bernard L. Madoff Investment Securities LLC account holders who collectively suffered losses of more than $13 billion.
Madoff confessed in December after a flurry of redemption requests by his customers. He pleaded guilty to securities fraud, mail fraud, wire fraud, investment adviser fraud, three counts of money laundering, false statements, perjury, false filings with the SEC and theft from an employee benefit plan. Madoff, who didn’t have a plea deal with prosecutors, will be sentenced separately on each count.
Madoff faces a prison term of as many as 150 years when he is sentenced on June 29.
Madoff, 71, has asked for prison term of as little as 12 years and no more than 20.
“The scope, duration and nature of Madoff’s crimes render him exceptionally deserving of the maximum punishment allowed by law, and the guidelines advise a sentence of 150 years,” assistant U.S. attorneys Marc Litt and Lisa Baroni said yesterday in a letter Chin. If the Chin opts for a lesser term, the sentence should be one that “would assure that Madoff will remain in prison for life,” they said.
i am sure this witch cannot prove she earned that money
Madoff Homes to Be Sold, Wife Forfeits Most of Her Claims
Share | Email | Print | A A A
By David Glovin and Thom Weidlich
June 27 (Bloomberg) -- Bernard Madoff’s houses in Palm Beach, Florida, and Montauk on the east end of New York’s Long Island as well as his Manhattan apartment will be sold by U.S. marshals under a ruling by Denny Chin, the federal judge scheduled to sentence him on June 29.
Madoff approved an agreement with prosecutors and he and his wife, Ruth, agreed to sell the properties to raise money to pay back victims of his $65 billion Ponzi scheme, the biggest in history. The orders don’t require Ruth Madoff to leave the couple’s apartment at 133 East 64th St. in Manhattan before the sale. Bernard Madoff has been incarcerated at a federal jail in New York since pleading guilty in March.
Chin’s order requires Madoff to forfeit $170 billion, eliminating his interest in all real estate, investments and other property, according to a statement yesterday by Acting U.S. Attorney Lev Dassin in Manhattan.
Ruth Madoff will retain $2.5 million while giving up her claims to more than $80 million in assets under an agreement approved by Chin, prosecutors said. She has said she had $45 million in bonds and $17 million in cash that were “unrelated” to her husband’s scheme.
Ira Sorkin, the lawyer for Bernard Madoff, said the documents speak for themselves. Peter Chavkin, the lawyer for Ruth Madoff, didn’t immediately return a call seeking comment yesterday.
Bernard Madoff pleaded guilty in March 12 to federal charges that he used funds from new investors to pay off other clients in the Ponzi scheme. His customers were told they had as much as $65 billion in the weeks before the fraud came to light.
Cars, Boats, Piano
Madoff will also sell Mercedes-Benz and Volkswagen automobiles, boats and trailers by Chin’s order. Also to be sold are his $39,000 Steinway piano and $65,000 worth of silverware, now located in the Manhattan apartment.
Prosecutors have identified 1,341 Bernard L. Madoff Investment Securities LLC account holders who collectively suffered losses of more than $13 billion.
Madoff confessed in December after a flurry of redemption requests by his customers. He pleaded guilty to securities fraud, mail fraud, wire fraud, investment adviser fraud, three counts of money laundering, false statements, perjury, false filings with the SEC and theft from an employee benefit plan. Madoff, who didn’t have a plea deal with prosecutors, will be sentenced separately on each count.
Madoff faces a prison term of as many as 150 years when he is sentenced on June 29.
Madoff, 71, has asked for prison term of as little as 12 years and no more than 20.
“The scope, duration and nature of Madoff’s crimes render him exceptionally deserving of the maximum punishment allowed by law, and the guidelines advise a sentence of 150 years,” assistant U.S. attorneys Marc Litt and Lisa Baroni said yesterday in a letter Chin. If the Chin opts for a lesser term, the sentence should be one that “would assure that Madoff will remain in prison for life,” they said.
Either way he's going to die in prison. It'd be great if he were in the general jail population but he wouldn't last two days. Someone would definitely kill him so he'll be in confinement.