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February 12, 2009

Guardian: Madoff’s wife withdrew $15m

By Spear's

The wife of the renegade financier Bernard Madoff withdrew $15.5m (£10.8m) from an account at a Madoff-linked brokerage firm in the days running up to her husband’s arrest, it emerged today tonight.

From the Guardian:

The wife of the renegade financier Bernard Madoff withdrew $15.5m (£10.8m) from an account at a Madoff-linked brokerage firm in the days running up to her husband’s arrest, it emerged today tonight.

Court documents filed by financial regulators in Massachusetts prompt fresh questions about the actions of Ruth Madoff, an occasional author who once co-wrote a kosher cookery book, Great Chefs of America Cook Kosher.

According to records of wire transfers obtained by Massachusetts’ secretary of state, Mrs Madoff withdrew the money from Cohmad Securities, a firm co-owned by her husband which shared premises and had close commercial ties with Madoff Securities.

The transfers show that she took out $5.5m on 25 November followed by $10m on 10 December – the day her husband turned himself in to the authorities and allegedly confessed to fiddling investors out of $50bn.

To read the full story, visit guardian.co.uk

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