NEW PHOTO! Ruth Madoff visits husband Bernie in jail and leaves with big bag of Money? Must be for auto repairs.
New celebrity "rich and famous" scandal photos! It seems like having Bernie Madoff in prison is continuing to pay off for wife Ruth Madoff and brother Peter Madoff. Bags of money leaving the jail, vintage exotic cars, and luxury lifestyles... who know having a relative in prison could ever sound so cool.
MADOFF FAMILY: DEN OF THIEVES WITH THE BEST TASTE?
On July 14th, Mrs. Ruth Madoff, standing by her man, visited her famous (infamous) swindler husband in prison. Surprisingly enough, when she left the jail she carried out a big bag full of cash money -- the origin of which is unknown. [SEE PHOTO ABOVE]
Bernie Madoff has been in prison for roughly a month for crimes that are financially tantamount to war crimes, hate crimes, and crimes against humanity in general.
Wife Ruth Madoff is know for her lavish taste, preferences for fine yachts, and may be the most controversial wife questioned since Hillary Rodham Clinton.
One would think that life for the Madoffs and anyone who has benefited or enjoyed the spoils of his fraud schemes would be spurned and suffering according to moral law. However, that does not appear to be the case.
The only thing that is clear is that Bernie Madoff and family continue to score, despite legal obstacles likely to keep Madoff incarcerated for the remaining balance of his life.
What car Mrs. Madoff is driving now or chose to drive the most in the past is not entirely clear. However, Bernie Madoff's brother Peter Madoff has enjoyed the "Madoff company car" (his own stealthy land yacht version), that's for sure.
It's easy to understand why -- not only does he reside in exotic car drivers warm weather paradise West Palm Beach, Florida, he's tooling about in a rare Aston Martin.
The car, a vintage Aston Martin none the less, was reported to have a value of $237,600.
Peter Madoff has not been charged with any wrongdoing, according to ABC News (original article below). Peter Madoff's lawyer could not be reached for comment at the time of the original report.
The noose is slowly finding it's way to the sibling Madoff though, as reports from Bloomberg news indicate that Peter Madoff is being sued for "unjust enrichment" (April 2009).
Perhaps Madoff gave his wife the cash he's already won conning con men already inside the state run hotel with the highest secority around. After all, it might just be that brother Pete needs a bit more money to pay for service and maintenance on the old car -- hoping to keep it's value up for future sale?
Peter Madoff (left) and brother Bernie Madoff pictured with Aston Martin
VINTAGE CAR WORTH POUNDS OF FLESH
According to Bloomberg:
The liquidators claim that in March and May 2008, Madoff International wire-transferred 135,000 pounds ($201,399) to Aston Martin company to buy a car for Peter Madoff, court papers show. The vehicle was delivered to Peter, 63, at his residence in Palm Beach, Florida. It’s a 1964 Aston Martin DB2/4, according to the court papers.
“The circumstances of the transactions are such that it would be inequitable and unjust for the defendant to retain the benefit of the wire transfers and the purchase and receipt of the vehicle without providing adequate consideration, which he has not done,” the liquidators said in papers filed today.
Peter is also alleged to have breached his fiduciary duties by receiving the wire transfer and the vehicle without “legitimate” reimbursement to Madoff International. Peter was a director, manager, and shareholder of Madoff International, according to court papers.
As of July 2009, assets seized from the Madoff family and their shell corporations include but are not limited to the following luxury lifestyle items and products, with the vintage exotic car notably absent. What will become of the car? It is likely to be sold at public auction should it be returned to help refund those most gravely affected by the scandals.
MADOFFS' SEIZED ASSETS
excerpt from Business Times
— Mr and Mrs Madoff’s Manhattan penthouse apartment which is believed to be worth $7 million (£4.7 million). This is where Madoff spent some of his time on bail after his arrest in December and before he was jailed last month pending sentencing in June after he pleaded guilty to orchestrating a $65 billion fraud.
— An ocean front property in the Hamptons which is estimated to be valued at $3.3 million, though some locals believe the true worth is double that figure.
— A home in Palm Beach, Florida which is expected to fetch $9.4 million. This has now been seized by US authorities.
— The couple’s villa in Cap d'Antibes is registered in Ruth Madoff's name is believed to be worth $1.3 million.
— A Leopard 23M Sport Yacht known as “Bull”. The boat, estimated to be worth $7 million, was seized by authorities earlier this month.
— A 40-foot Shelter Island Runabout sport fishing boat, known as “Sitting Bull,” which was bought in the name of Ruth Madoff for approximately $430,812
— A Rybovich 56-foot sport fishing boat, made in 1969 and is the sister boat to the “Bull” currently moored and chained up in France, was seized by US authorities at the end of March. This boat was also owned in the name of Ruth Madoff. [Luxury Yacht]
— The nautically-minded Mrs Madoff also owned another vessel, this one, a 25-foot Pathfinder boat, is known as “Little Bull”. [Fishing Boat and Runabout]
— One 2007 BMW 530i which sells for around $50,000. [Sports Car]
— A 1999 Mercedes Benz CLK Class, which could fetch over $9,000. [Luxury Car]
— One 2004 Volkswagen Touareg which may be worth around $12,000. [4x4 SUV]
— A 2001 Mercedes Benz E Class can sell for over $47,000. [Luxury Car]
— One Steinway piano owned in the name of Ruth Madoff, which is valued at approximately $39,000.
— Silverware set owned in the name of Ruth Madoff, worth approximately $65,000.
— All funds of approximately $17 million on deposit in any and all accounts at Wachovia Bank in the name of Ruth Madoff, and any accounts to which said funds have been transferred, and all traceable funds.
— Any and all interest in COHMAD Securities Corporation held in the name of Bernard Madoff, and all traceable property.
— Any and all securities, funds and other property in the name of Ruth Madoff at COHMAD Securities Corp including but not limited to, municipal bonds valued at approximately $45 million.
Peter Madoff's $235,000 Company Car
Trustees of Bernie Madoff's U.K. Firm Want to Seize His Brother's Vintage Aston Martin By KATE McCARTHY
April 16, 2009—
The brother of convicted Ponzi schemer Bernard Madoff wheels around Palm Beach in a vintage Aston Martin worth more than $235,000, paid for by Madoff Securities, according to court documents filed by London-based bankruptcy trustees.
The Joint Provisional Liquidators of Madoff Securities International Limited, Madoff's London based company, filed for bankruptcy in Florida and are attempting to seize some assets of Peter Madoff, including the vintage Aston Martin.
The liquidators allege Peter Madoff "is personally in receipt of assets that may have been fraudulently transferred to him by MSIL or may otherwise be recoverable by MSIL," according to the documents filed in the United States Bankruptcy Court in the Southern District of Florida this week.
The liquidators received recognition in the court that enables them to pursue Peter Madoff's assets and any documents and information related to the liquidation of MSIL, according to the judge's ruling.
"We are grateful for the recognition and assistance of the U.S. courts," Steve Akers, a provisional liquidator of MSIL, said in a paper statement.
One asset in question is a vintage Aston Martin worth $237,600, according to the court documents.
In the filing the liquidators claim "in March and May 2008, Bernard Madoff caused wire transfers from MSIL accounts to be made to the Aston Martin company in the amounts of £35,000 and £100,000, respectively, for a total of £135,000 ($237,600), in order to enable the purchase of a vintage Aston Martin automobile, model number DB2/4 1964 & for Mr. Madoff's brother Peter Madoff."The dollar amount is based on the approximate exchange rate at the time of the transactions, according to the documents.
The Cost Aston Martin Was Delivered to Peter Madoff in Palm Beach
The $237,600 charge was recorded as "a debit to a personal loan account of Mr. Madoff" in the MSIL books, and the car was delivered to Peter Madoff's house in Palm Beach, the liquidators allege in the court documents.
The judge granted an order preventing Peter Madoff from moving the car.
The loan was allegedly repaid from internal corporate accounts and not Bernard or Peter Madoff's personal funds, according to the court filing.
Peter Madoff has not been charged with any wrongdoing. Peter Madoff's lawyer could not be reached for comment.
Bernard Madoff, 70, pleaded guilty last month to 11 felony counts in connection with a $65 billion Ponzi scheme. He is currently awaiting sentencing at the Manhattan Correctional Center. He faces up to 150 years in prison.
Click Here for the Investigative Homepage.
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