Madoff prosecutors want assets from wife and children

Wednesday, March 18, 2009 

Crime and law

Related articles

• 13 October 2024: Data breach and DDOS attacks bring down Wayback Machine
• 1 October 2024: Prosecutors charge man with attempted assassination of former US President Donald Trump
• 11 September 2024: Four killed in Apalachee High School shooting in Georgia, United States
• 4 June 2024: Former U.S. President Trump convicted in hush money trial
• 3 June 2024: Akron, Ohio shooting leaves 1 person dead, 25 people hurt at birthday party

Collaborate!

• Pillars of Wikinews writing
• Writing an article

The wife and sons of Bernard Madoff are now under pressure from prosecutors to give up US$2.6 million worth of jewelery and $31.5 million in loans. Madoff made the news recently when he pleaded guilty to running a Ponzi scheme worth billions of dollars.

Prosecutors, who stated their intent on Sunday to seize bonds and cash from Madoff, filed another notice on Tuesday listing assets that they intend to seize, among them "various pieces of jewelry owned or held in the name of Ruth Madoff valued at approximately $2,624,340," and "approximately 35 sets of watches and cufflinks owned by Bernard Madoff," as well as $31.5 million in loans made to Madoff's sons.

Bernard Madoff, aged 70, pleaded guilty last Thursday to cheating investors out of as much as $65 billion in the largest ever Ponzi scheme. He was jailed immediately after his plea, and faces a prison sentence of up to 150 years. Neither his wife nor his sons have been accused of any wrongdoing.

• "Madoff jailed after pleading guilty to $50 billion fraud scheme" — Wikinews, March 13, 2009

Bernard Madoff on Wikipedia.

• Grant McCool. "U.S. turns up the heat on Madoff clan, wants assets" — Reuters, March 17, 2009
• David Glovin. "Madoff Prosecutors Seek to Recover Loans to Children, Jewelry" — Bloomberg L.P., March 17, 2009
• Maddy Sauer. "Prosecutors Want Over $30 Million from Madoff Sons" — ABC News, March 17, 2009
  

Share this:

This page is archived, and is no longer publicly editable. Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication. Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators. Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections. Note that some listed sources or external links may no longer be available online due to age.

This page is archived, and is no longer publicly editable. Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication. Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators. Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections. Note that some listed sources or external links may no longer be available online due to age.