Federal authorities have seized Bernie Madoff’s $9 million Palm Beach mansion, two boats and his Mercedes, the Palm Beach Post is reporting.
The five-bedroom mansion is owned by his wife, Ruth, but authorities aim to seize as many Madoff properties as they can to repay swindled investors. The Madoff’s also own a $7 million Manhattan penthouse, a $3 million Long Island home and a $1 million house in France.
Madoff, who pleaded guilty to running a $65 billion Ponzi scheme, is being held in a detention center in New York.
Guess he won’t be needing that stuff now that he has a new home.
Agents found a lot of bull-related items among Madoff’s possessions — pictures of bulls, bull statutes. Even his boats were named Bull. Let this be a warning to would-be investors: If your investment broker’s home is full of bull, he probably is too.
The Madoff estate was the former home of another well-known Palm Beach power couple, Peter and Roxanne Pulitzer, whose 1982 divorce trial included tales of drug abuse and group sex. Let’s face it: that house has some bad mojo.