Government Seizes Madoff Penthouse

The man responsible for the largest Ponzi scheme in American history has lost his Manhattan penthouse apartment to federal marshals. Bernard Madoff’s $7 million property, from which his wife was evicted without even being able to take any of her possessions, will be sold and the proceeds will go toward the victims of Madoff’s billion-dollar scheme.

According to reports, Mrs. Madoff begged marshals to allow her to take her fur coat, but in the end, all she could take with her was a straw bag and the clothes on her back. She maintains that she is innocent until proven guilty and agreed to give up over $80 million and keep just $2.5 million of her own money as part of her husband’s sentencing.

Madoff will also be losing his properties in Palm Beach, Florida, and Montauk, New York as part of his prosecution. He will also lose two other floors that he owned in the same building as his penthouse for a total of almost 60,000 square feet worth of space. The building’s leasing agent continues to market the space vigorously.

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