Luxury Florida Mansion Seized From Madoff

  • 15 years ago
  • Uncategorized
Fraudster Bernard L Madoff assets are being stripped from his ownership whilst he spends the rest of his days behind bars. The latest asset to go is his Florida waterfront mansion and vintage yacht
 
U.S. marshals changed the locks at the unoccupied property and inventoried the 8,753-square-foot home, listed on tax rolls as worth $9.3 million.
Madoff’s 55-foot yacht named “Bull,” a 1969 Rybovich valued at $2.2 million, was seized from a marina on Florida’s Atlantic coast. A motor boat also was seized.

Madoff has pleaded guilty to 11 charges relating to a huge investment fraud on Wall Street, which robbed private investors, charities and pension funds of an estimated $65bn (£45bn).

 
Lawyers for the investors want Madoff and his wife to give up all their assets, including a Manhattan penthouse and homes on New York’s Long Island and the French Riviera.
 
The 70-year-old used cash from new investors to pay fictional returns to existing clients must be thinking was it all worth it.
 

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