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Trustee Sues Ruth Madoff for Nearly $45 Million

Date: July 29, 2009
Author: Zachery Kouwe
QUOTE: Irving H. Picard, the trustee who is trying to recover money for investors defrauded by Bernard L. Madoff, sued Mrs. Madoff on Wednesday for $44.8 million. Mr. Picard claimed Mrs. Madoff received tens of millions of dollars from her husband’s investment firm, enabling her to live a “life of splendor"....While Mr. Picard stopped short of saying that Mrs. Madoff was aware of the fraud, he said she nonetheless profited from financial ties to her husband’s firm.

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