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Ruth Madoff must report any spending over $100

Category :International Sub Category :Americas
2009-08-04 00:00:00
   Views : 228

New York, Aug 4 (DPA) The wife of convicted fraudster Bernard Madoff must give a monthly accounting of her spending to a court-appointed trustee, the Wall Street Journal reported Tuesday.

Ruth Madoff, who gave up her claim to Madoff's $80-million estate and instead has kept just $2.5 million, would have to report any spending over $100 to the trustee seeking to regain funds of investors bilked by her husband.

She was sued last week, with the court-appointed trustee for her husband's bankrupt investment company saying that she in the last six years had received $45 million, which should be returned to the firm for compensation of fraud victims in the case. The agreement that requires her to report her spending habits came as part of that lawsuit, the Journal reported.




Author :DPA



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