Ruth Madoff Wants to Keep the Secret Stash House

Ruth's Digs: Pimpin' Aint Easy

Sure, let Ruth keep The House that Ponzi Built, the upper east side penthouse Madoff Attorney Ira Sorkin is now claiming is “unrelated” to the fraud charges.  Yeah, ok…unrelated!  Like the gold and art looted from every corner of Europe by the Nazis and hoarded in Swiss banks was “unrelated” to the genocide.  Sure.  Ruth’s money fell from the sky, only her husband’s assets were ill-gotten.

From Bloomberg:

Madoff’s lawyers claim “only Ruth Madoff has a beneficial ownership” to a Manhattan apartment, about $45 million in municipal bonds on deposit at Cohmad Securities Corp., and approximately $17 million in cash in another account, Stanton said. Ruth Madoff says these assets are “unrelated” to the alleged fraud, Stanton wrote, citing her husband’s lawyer.

The Madoffs should be thrilled that we live in a time and place where a judge would even entertain a distinction between his and her assets while attempting to unwind perhaps the largest swindle in Wall Street history.  In the old days, they would’ve simply cut his head off and sent her to a convent.

Here how I see this shaking out.  Ruth walks away with over $100 million between the apartment, other property, the $15 mil she slickly withdrew when news of the fraud first hit and her muni bonds/ other holdings.  Bernie spends the next 2 years filing motions and appeals while the court runs up a tab at our expense.  When all is said and done, he gets a 10 year sentence, serves 7 years of it, and dies quietly in his sleep in an ocean villa in Florida with the sound of waves gently lapping on the sand.

Me, I’m on an elevated platform, waiting for a 6 AM train in 10 degree weather, looking up at the moon.

Well played Bonnie and Clyde…decades of decadence, months of punishment.

Read the Full Story: Ruth Says Her $62 Million “Unrelated”

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