BREAKING NEWS

Report: No charges against Ruth Madoff due to lack of evidence

By JPOST.COM STAFF

JULY 1, 2009 23:57

Ruth Madoff, the wife of disgraced financier Bernard Madoff, will not face criminal charges due to lack of evidence she was aware of her husband's scheme, Reuters reported on Wednesday. Federal investigators did not have evidence pointing to any involvement by the 68-year-old in the multibillion-dollar, decades-long fraud, the New York Post and the Wall Street Journal each cited two sources familiar with the probe as saying. According to the report, a spokeswoman for the Office of the US Attorney in Manhattan, which prosecuted Madoff following his arrest last December, declined to comment. Bernard Madoff, 71, was sentenced to a 150-year prison term on Monday after pleading guilty in March to orchestrating a classic Ponzi scheme in which early investors were paid with money invested by new clients.

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