I hadn't seen this before, but yes, it sure does look as if Bernie Madoff is trying to shelter $62 million from creditors by leaving it in his wife's name.
Bernard Madoff is seeking to keep a $7 million Manhattan penthouse and an additional $62 million in assets, saying they are unrelated to the fraud that authorities say cost victims more than $50 billion. In court papers filed Monday in U.S. District Court in Manhattan, Madoff and his lawyer claim the apartment, $45 million in municipal bonds and $17 million more in a separate account all belong to Madoff's wife, Ruth.
This is--what's the word I'm looking for? Oh, right--the words I'm looking for can't be printed on a family blog. It is true that the money will not do much to make $50 billion worth of investments whole, but a little money is better than nothing, and those investors certainly deserve it better than Ruth Madoff, who has been living high off of ill-gotten gains for years.
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