Wednesday, February 11, 2009

Mrs. Bernie Madoff Did It By Herself? Oh Please...

Just in the unlikely event you hadn't heard, here's an interesting report from Reuters:

Ruth Madoff pulled $10 million on December 10, the day before her husband was arrested and charged with running a global investment fraud, and $5.5 million on November 25, according to Massachusetts Secretary of State William Galvin....The disclosure of her withdrawals came in reports produced by Cohmad Securities, a firm co-owned by Bernard Madoff that had funneled millions of dollars from its clients to Madoff.

Ruth Madoff and son Andy

The New York Times says "Cohmad Securities was founded in 1985 by Mr. Madoff and a close associate, Maurice J. Cohn."

Civil and criminal investigations are continuing. Here are my related earlier posts.

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