Bernard Madoff's wife withdrew $15.5 million from a Massachusetts brokerage account firm linked with her husband prior to his arrest, according to Massachusetts authorities on Wednesday.
Ruth Madoff removed $5.5 million on November 25 from Cohmad Securities and additional $10 million the day before her husband was arrested for allegedly operating a $50 billion Ponzi scheme, according to a complaint filed today by Secretary of the Commonwealth William Galvin.
He is attempting to revoke the company's state securities registration for not cooperating fully with an investigation into its relationship with Madoff, according to Bloomberg.
We cannot tolerate licensed securities dealers who refuse to assist in the detection and prosecution of fraud, Galvin said in a statement today.
Galvin did not file any charges against Ruth Madoff. Bernard Madoff is the only person charged so far after allegedly confessing to fraud. If convicted of securities fraud he faces as much as 20 years in prison.