News & Politics

Feds Seek Mrs. Madoff’s Millions; Madoff Release Highly Unlikely

by

Now that he’s pleaded guilty, federal prosecutors are getting more serious about recovering Bernie Madoff’s ill-gotten gains. They are reportedly going after the Park Avenue townhouse and assets belonging to Madoff’s wife Ruth, though Madoff’s lawyers claim they are not part of the fraudulent earnings accumulated by the master criminal. Meanwhile Madoff’s lawyers are hoping to get him sprung before his sentencing, but that seems a faint hope: as the New York Law Journal explains, Judge Denny Chin has shown himself highly unsympathetic to their contention that Madoff is not a flight risk (“he has an incentive to flee, he has the means to flee, and thus, he presents a risk of flight”). Image via The Smart Asset.

More:

Most Popular