Madoff's Wife to Give Up $80M; Bernie Hit for $170B

By Neal Colgrass,  Newser Staff
Posted Jun 26, 2009 9:11 PM CDT
Madoff's Wife to Give Up $80M; Bernie Hit for $170B
Ruth Madoff is escorted by private security as she leaves the Metropolitan Correctional Center after visiting her husband disgraced financier Bernard Madoff, in New York on Monday, April 6, 2009.   (AP Photo/Mary Altaffer)

Ruth Madoff struck a deal with federal prosecutors today to forfeit nearly $80 million in assets and retain only $2.5 million in cash, the Wall Street Journal reports. The wife of swindler Bernard Madoff reached the agreement with the US attorney's office in Manhattan. Meanwhile, a US judge entered an order of forfeiture against the Ponzi schemer for more than $170 billion.

The order empowers prosecutors to go after Bernie's real estate, vehicles, and investments, although they likely won't recover the whole amount. Documents released today showed that Ruth agreed to give up boats and vehicles as well as properties in Manhattan, Montauk,and Palm Beach, Fla. The deal may allow her to move on after months of being shunned at Manhattan establishments and crucified in the tabloids.

(Read more Bernard Madoff stories.)

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