Clever Madoffs Mailed $1 Million Of Jewels To Family, Friends

Now we know why the prosecutors freaked out over revelations that the Madoffs sent some family jewels off to friends. These weren’t a few cheap baubles that they wanted to preserve for memory’s sake. They sent $1 million worth of jewelry through the US mail.

Who sends $1 million in jewelry in the mail, except for someone covertly trying to move and protect assets they know they shouldn’t be touching?

Sadly, Ruth Madoff will probably end up practically penniless at the end of this story, so it’s understandable that she and her husband would like to protect whatever assets they can. And that’s a charitable interpretation of this idiotic move. The sinister one is that $1 million is easily enough for the two of them to live on in another country, and that prosecutors saw the move as evidence of increased flight risk.

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