NPR logo Ruth Madoff Sued For $44 Million

Ruth Madoff Sued For $44 Million

It's not over yet for Ruth Madoff, the wife of fraudster Bernie Madoff. The trustee liquidating Bernie's business is suing Ruth for $44.8 million, saying that she profited for years off his Ponzi scheme. The trustee, Irving Picard, said that she received at least $23.7 million directly or indirectly from Bernie's firm.

Ruth Madoff's already lost her husband, her glamorous Upper East Side apartment (she's likely downgrading to a one-bedroom!), and most of her property, which the government is selling to repay Bernie's victims. After Bernie's assets were seized, prosecutors allocated $2.5 million to Ruth, but that's likely to dwindle fast as legal fees continue to mount.



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