Official: Madoff's Wife Pulled $15M Before His Arrest
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A Massachusetts state official says the wife of disgraced money manager Bernard Madoff withdrew $15 million from a firm co-owned by her husband — including $10 million on the day before his arrest.
Secretary of State William Galvin says Ruth Madoff withdrew the money in two steps from Cohmad Securities Corp., which is co-owned by Madoff.
Galvin said she made withdrawals on Nov. 25 and Dec. 10 — the day before Madoff turned himself in on charges he swindled billions from investors. He cited reports produced by Cohmad as proof of the withdrawals.
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Galvin is trying to stop Cohmad from doing business in Massachusetts because of its relationship with Madoff.
A telephone number listed to Ruth Madoff in Palm Beach, Fla., rang busy and a number in New York had been disconnected.
Click here for photos of Bernie Madoff.
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