Ruth Madoff to skate

Sad news from the New York Post which reports today that prosecutors have no present intention of trying to put Ruth Madoff behind bars. Well, if there isn’t enough evidence to tie her to the Ponzi then there isn’t, but I’m disappointed. I like this part, though:

Ruth will be left with just $2.5 million in cash by federal authorities under that deal.

“In the deal, she lost everything. She’s lost everything she holds dear,” said one source. “She’s lost her husband. She has no friends.”

“She’s persona non grata in Palm Beach, everywhere she cared about. She’s a beaten woman. There’s nothing left on the carcass to take,” the source said.

“They’ve squeezed her dry.”

Anyone who wants to squeeze me dry and leave me with $2.5 million, cash, is welcome to do so. For even less – say, a cool million, I’ll stay away from  Palm Beach; no problem.

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7 responses to “Ruth Madoff to skate

  1. anon1

    I have no sympathy for Ruth’s plight and highly doubt she was not involved or had knowledge of Bernie’s scheme. If there is some justice in this case she will suffer, alone and despised, for the rest of her life.

  2. I think they wanted the $2.5 million but couldn’t tie it to the fraud.

  3. Peg

    Lots of great deals on homes in the Twin City area. But – tell Ruth not to show up. She would be persona non grata Up North, too.

  4. pulled up in OG

    Two and a half mil layin’ around, huh?

    WALT!!!! Time to put on a fresh pair and go a-selling.

  5. Old School Grump

    Although I have no sympathy for Ruth, I am deeply curious (okay, really nosey) about how she will live out the rest of her life. On the one hand, it’s like she’s in the Federal Witness Protection Program, but without the Protection, and without any assistance in creating and launching a new identity. On the other hand, given that she’s been living a lie for decades, she should be pretty adept at creating new lies to live by. I think the wild card is this: Will she be willing to accept her “reduced” circumstances and live within those skimpy $2.5 million means? Or will she try to access hidden assets (and we all know they’re out there!) under cover of darkness?

    • christopherfountain

      If I see Walt and her pushing off in a rubber dinghy, late at night, from the Belle Haven beach, I’ll know the answer to that.

  6. Curious Insomniac

    You know, I read that article earlier today and thought the same thing, $2.5M?

    Then I ran the numbers since there’s nobody left to earn a steady 10-12% year after year. Since this is supposedly “all” the money and assests she has left in the world, she’ll need to be conservative in her investments, say 4%? That should give her around $100k per year in income before taxes. So, maybe $60k after taxes (maybe less if Obama gets his way). That leaves a net of $5k per month to live on, I would surely be able to handle that, but how does somebody like Ruth manage to downsize her life to fit a $5k/month lifestyle?

    She’s either being sentenced to her own version of Hell on Earth, or the Federales are going to try to smoke out those hidden assets, either way it should prove interesting.

    I’m no math wiz so I could be completely wrong with my figures, if so I hope somebody will correct me here.