Madoff’s $10 Million Penthouse For Sale


Bernard Madoff, accused of being a sociopath, was trapped in a luxurious New York City penthouse during his house arrest period after his December bust alongside his wife Ruth. Madoff’s owned three properties on U.S. soil — Manhattan, Montauk, and Palm Beach, which were altogether valued at around $20 million. All these luxuries were bought through lies and deceit, mainly of New York and Palm Beach’s philanthropic Jewish communities.

After robbing thousands of investors and charities blind, Madoff was sentenced to a 150-year prison sentence in July. He had pleaded guilty to the charges that his multibillion-dollar investment advisory business was all a Ponzi scheme.

After evicting Ruth from the property and seizing everything in it, U.S. Marshals invited the media into his elegant Upper East Side penthouse duplex to check out what Ruth and Bernie had acquired illegally at he costs of others’ loses. Following the lead of his other properties, his 10th and 11th floor penthouse finally went on the market listed at $9.9 million by Sotheby’s Anne Corey and Serena Boardman.

Reuters reported, “according to court documents the Steinway is worth $39,000, clocks, lamps, lighting fixtures and sconces are worth about $1.7 million, and paintings, prints and photographs are valued at about $1.6 million.” The sale of his homes and their contents, along with the proceeds from his three yachts and a 1999 Mercedes Benz, will be set aside in a fund to partially reimbursed Madoff’s victims of fraud.

Ruth is now living at an undisclosed location and Bernie now resides at a federal prison in North Carolina.

Via Observer