LONDON - The wife of multi-billion dollar fraudster Bernard Madoff has been slapped with a 27-million-pound lawsuit filed by a trustee.
Irving H Picard is suing Ruth Madoff for assets of the staggering amount, alleging she lived “a life of splendour” using money that belonged to customers of her husband’s investment.
Picard, the trustee overseeing the liquidation of jailbird Madoff, said the Ponzi King’s wife received tens of millions of dollars from Madoff’s business in the last six years while the business received no corresponding benefit or value in return, reports The Daily Express.
He added that she was a controller at a related British company, and had business responsibilities for account reconciliation within the company’s Investment Advisory Business.
Ruth’s attorney, Peter Chavkin, issued a statement saying that Picard’s action was “wrong as a matter of law and fairness”.
He said the lawsuit was “particularly perplexing and totally unjustified” because his client has already forfeited to the federal prosecutor’s office nearly all of the assets described in the lawsuit.
Madoff, 71, was found guilty of running the biggest fraud in the Wall Street history and is presently serving a 150-year prison sentence. His wife has not been charged with any crime. (ANI)