Legal News

Madoff Agrees to Another 30 Day Extension on Indictment

By Ashby Jones

This just in: According to an AP report, A deadline to indict Bernie Madoff on fraud charges has been extended by 30 days.

The government faced a Wednesday deadline to obtain a grand jury indictment. But lawyers have agreed to delay the indictment as authorities continue to investigate the case. For previous LB Madoff coverage, click here.

UPDATE: This just in: Ruth Madoff, Bernie’s wife, withdrew $15.5 million from a Madoff-related brokerage firm in the weeks before Bernie’s Madoff’s arrest, according to the Massachusetts Secretary of State. Ruth was an employee at the firm but, to date, has yet to be implicated in the Madoff situation.

A complaint filed Wednesday by Secretary William Galvin’s office (link not yet available) said Ruth Madoff withdrew $5.5 million on Nov. 25 and $10 million on Dec. 10, according to documents from Cohmad Securities, which was co-owned by Bernie Madoff and which the Massachusetts office is investigating. Mr.

Mrs. Madoff’s attorney, Ira Sorkin, did not immediately respond to a request for comment

Full post as published by Law Blog - WSJ.com on February 11, 2009 (boomark / email).