Madoff's Wife Took Out $15.5M Before Arrest: Agency

Law360, New York (February 11, 2009, 12:00 AM EST) -- The wife of disgraced financier Bernard L. Madoff withdrew $15.5 million from a broker-dealer co-owned by her husband just days before his arrest on charges of running a $50 billion Ponzi scheme, according to the Massachusetts securities regulator.

According to an administrative complaint filed Wednesday against Cohmad Securities Corp., Ruth Madoff withdrew $5.5 million from an account at the firm on Nov. 25, then another $10 million on Dec. 10 — the day before his arrest.

The enforcement section of the Massachusetts Securities Division of the...
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