about this blog
- Elizabeth MacDonald is the stocks editor for Fox Business Network. She is recognized as one of the top prize-winning business journalists in the country, and has received 14 awards, including the top prize in business journalism, the Gerald Loeb Award for Distinguished Business Journalism, and the Newswomen's Club of New York Front Page Award for Excellence in Investigative Journalism.
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zezowaty Zorro
I cannot imagine a bookkeeper not knowing something fishy is going on after a week and having proof of fraud on hand on making year's balance at the latest. Ruth Madoff was wife and bookkeeper of largest ponzi swine in history. She is guilty or hell freezes over if otherwise. Any person knowing anything about accounting will agree. There is no way of keeping track of all transactions and not knowing them as fraud. No way. Or accountancy is for freaks.
Mike
The absolute worst thing you can do when you or a family member is under investigation is cooperate. The authorities absolutely have no vested interest in helping you, they do have a interest in prosecuting as many people as possible. The best policy is to shut up and let them do their job, which I am sure is what Mrs Madoffs lawyers told her to do. Why do you think that everyone who testifies before congress needs a lawyer, speaking out is more likely to put you in jail than to keep you out. There are exceptions, such as those going down anyway and turning on another to save their own skin. That is one of the rare times when cooperating with investigators would be a net plus.
Carla, Ballwin, MO
Under those circumstances, if he truly loved her, he shouldn't have involved her in the biz! Her punishment - living on $2.5 million!!!
Silver Surfer
The statement from Ruth Madoff's mouthpiece stinks under ice! How is it humanly possible not to know something was suspicious after 40 years? She's being dishonest about this, and so are the rest of the family. While it is possible all of Madoff's family suffers from delusional episodes, it is exceptionally unlikely that all of them could suffer this degree of mental disorder at the same time for that long a period. Somebody is lying, and she a prime suspect. Seize all of their accounts, filter through them with an extra fine toothed comb, and prosecute the guilty. Strip all of them of their ill gotten gains and serve them up to the mercy of their victims. Justice is served.
Equisse
Ruth, you want to redeem yourself? Take a lie detector test. If you pass, you can keep your designer clothes and spend the rest of your life helping to recover the money Bernie didn't spend on your free-wheeling lifestyle. If you fail, you auction your clothes, give the money to the people who paid for them, and you go to jail and learn to scrub toilets with a toothbrush. The same offer is available to your sons who I personally think are as guilty as you and your husband.
Paul
Ruth, you want to redeem yourself? Take a lie detector test and make the results public. If you pass, you can keep your clothes and spend the rest of your life helping the authorities to find the money and assets Bernie tucked away for emergencies. If you fail, you can go to prison and donate your designer clothes to the people mentioned previously, as well as help the authorities find the missing money and assets. The same offer is available to your sons who seem to be conveniently hiding from the people who supported the lavish lifestyle of the entire Madoff family. Personally, I think you and your sons deserve to be stripped of everything... just as your family has done to others.
jmf_stl
Madoff sentenced and out of the way, the greedy bastard. Now if we can get Barney Frank, Chris Dodd, Jamie Gorelick, and the rest of the real creators of the economies downfall maybe we will have something. But that won't happen.
bootyboot
she had to know what is up, "nothing gets past Ruth" is what Madoff even said about her. She is just as guilty and you know that silence means she knows more than she is implying.
j lynn
Would'nt it be funny if Ruth lost her investment? I think she should be left penniless and have to go get a job at walmart.
Steve
This is insane. The judge acted improperly and will be appealed successfully for a shorter term. Justice does not need emotion to be fulfilled. Why are we allowing this country to be governed and its laws enforced without common sense. This will wind up be 30 years but it will still be a life sentence for the sunset of his life.
Joe
Why should Ruth cooperate? If she doesn't know anything, why should she waste her time and spend what money she has left on attorney fees? The bigger question is what have the FEDs managed to find out on their own? It doesn't seem like they (FEDs) have discovered much on their own. Why are prosecutors counting on cooperation and not doing the forensic accounting necessary to find guilty parties and recover money?
Bob in Ky
Poor Ruth! Left with ONLY $2.5 Million! She must be really worried about how she will live from now on! I read today in another article that if that money is invested, she will only have about $125,000 a year to live on! What a bummer! Given the facts & circumstances, and, as per this story, what she is NOT saying, that she very probably knew MUCH more th an she's telling anyone. I hope that enough money is garnered from the forfeited assetts to completely reimburse all those who lost their life's savings, & are wondering how they're goint to make house payments, afford medical care, etc, etc. That guy is pure evil, & I don't think any of his family members are much better. I sure hope the Feds get to the bottom of this mess!
Rex Burgess
Wow, I'm actually shocked because I started to believe her. I don't care what people say; the best thing that could've happened to this country is freedom of the press. Yes, it's been abused, yes it's been used, but for true reporters telling it like it is, it's invaluable. Thank you for the other side of this rotten coin.
Ken
You don't have that much money and not even question where it comes from. Maybe the wife, but certainly not the well financially educated sons