February
2012
Friday, May 08, 2009
Mitchell Zuckoff, Fortune, 

The mystery of Ruth Madoff’s money

Charles Ponzi's wife, Rose, wound up broke, but Madoff's wife may have tens of millions. What's fair?

NEW YORK (Fortune) -- With Bernard Madoff pleading guilty to federal charges that will likely send him to prison for life, attention has turned toward his wife, Ruth. Or, more specifically, to two questions about her: What did she know of the fraud? And, will she keep the tens of millions of dollars worth of property and assets in her name?

Three months ago, Bernard Madoff described his operation as a Ponzi scheme, bringing new life to the man for whom it was named, Charles Ponzi. Now, the focus on Ruth Madoff should do the same for Ponzi's wife, Rose, though Mrs. Madoff might weep at the comparison, at least financially.

Posted by Editor on 05/08/09 at 12:20 PM •  (0) Comments

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