Thursday, February 12, 2009


Ruth Madoff, Bernie's wife, allegedly according to the WSJ, Bloomberg and other sources withdrew $10 million from a Madoff account on December 10, the day before Bernie confessed to his sons.

Hello!!!! I spent 25 years working on troubled companies and many financial frauds. This was all orchestrated. The question is how much, if at all, was Ruth involved?
Did Bernie just say,"Ruth, why don't you transfer $10 million today to a new account"? Or was Ruth involved and moved the money out of desperation knowing that the jig was up.

I have found that there is no such thing as a coincidence concerning a fraud and a related party. Bernie may have said, 'Ruthie, it is time to take the money out and put it somewhere safe.' She may said, 'What about the boys?' And he may have replied, 'I will tell them to call their attorney tomorrow to turn me in.' And so on. They may all need to go away. The brother Peter also.

But, this is just my conjecture.

Cheers, Mike

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