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.
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