Madoff victims sue his family for $45m – Bernard Madoff’s wife Ruth is being sued for $44.8 million (€31.9 million) by the trustee for the victims of his $50 billion Ponzi scheme.

Court-appointed trustee Irving Picard is the first person to take action against Madoff’s family members, all of whom have denied knowledge of the scam.

Picard’s lawsuit states: ‘Regardless of whether or not Mrs Madoff knew of the fraud her husband perpetrated…she received tens of millions of dollars…to which Mrs Madoff had no good faith basis to believe she was entitled.’

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