Prosecutors target assets of Ruth Madoff; Is Madoff's sons next?

Department of Justice sources told the Observer that prosecutors were “working around the clock” to build a criminal complaint against Mrs Madoff in an effort to ask a judge to freeze her bank accounts, which they believe are filled with the proceeds of her husband’s crimes. MORE HERE.

Investors learned how much Mr. Madoff says he held in assets just weeks after his multibillion-dollar fraud was disclosed: between $823 million and $826 million.Read SEC Statement on Madoff's Financial Condition. But, what about Madoff's sons? Take a look at the Madoff Family Foundation.

From City File website:

In 2007, the Madoff Family Foundation, which listed $19 million in assets at the end of the year, reported handing out $95,000 over the course of the year, down more than 90 percent from the year before when the foundation gave away $1.2 million.

But Bernie, it turns out, isn't the only member of the family with a charitable trust. Both of his sons, Andrew and Mark, had them, too. And there's an amusing sidenote to the Madoff sons' non-profit activities, particularly as investigators examine how much Madoff's sons knew about the scheme if anything at all.

Although the millions in Bernie's foundation were managed by his own investment firm, neither son entrusted their charitable trusts to their dad. Mark Madoff's $5 million account was parked at Lehman Brothers. Andrew's $2 million trust was in an account at Neuberger Berman.