Madoff Beach House Sells for $9.41M

The Long Island beach home formerly owned by the infamous Bernard Madoff has sold for $9.41 million and the money will go to a fund that will help defrauded investors to get back on their feet. Madoff was convicted of orchestrating an enormous multi-billion dollar Ponzi scheme and will spend the rest of his life in prison.
Although the sale of the house was announced a month ago, neither the identity of the buyers nor the price of the home was released. A statement made by the U.S. Marshals Service, which is in charge of the Department of Justice’s criminal forfeiture …read more