Bernie Madoff’s wife Ruth will pay victims of her swindler husband $594,000 after a federal judge approved the settlement with a court-appointed trustee who’s liquidating the fraudster’s assets and raising money for those he deceived.
U.S. Bankruptcy Judge Stuart Bernstein in Manhattan authorized the settlement on Tuesday ending a decade-old lawsuit.
The accord calls for the former socialite, 78, who was never charged over her husband’s Ponzi scheme and has denied knowledge of it, to pay $250,000 in cash and give up $344,000 of trusts for two grandchildren.
She also agreed to surrender her remaining assets upon her death to Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC.
‘Enforcement 40’ for 2020
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