Ponzi

Ruth Madoff’s Fishy Withdrawal

Bernard Madoff’s wife, Ruth, has maintained her innocence throughout her husband’s trials, but, according to The Wall Street Journal, she “withdrew $15.5 million from a Madoff-related brokerage firm in the weeks before her husband’s arrest.” There’s no proof yet of criminal wrongdoing, but the firm, Cohmad Securities, was co-owned by Madoff and is being investigated by the Massachusetts Secretary of State. In other Madoff news, the deadline for prosecutors seeking an indictment from a grand jury will be extended 30 days.