As the federal government seeks to return money to investors that Bernard Madoff scammed in one of Wall Street's largest Ponzi schemes, more than a dozen of his businesses and partnerships are being confiscated, including a radiology practice in Hoboken, N.J., in which his wife Ruth is an investor.
The Star-Ledger reported that Gary Berger, the administrator and part-owner of Hoboken Radiology, said that he expects the federal government to seize 21 percent of his company--the percent of the business that Ruth Madoff owns.
Berger confirmed to the Star-Ledger that she bought a 21.25 percent share in Hoboken Radiology five years ago. He declined to say exactly how much Madoff invested, but said she is one of nine investors in the company, including himself.
Hoboken Radiology offers services for PET/CT, multidetector CT, 3D/4D ultrasound, MRI, x-ray, mammography and bone densitometry, according to its website.