Madoff's Homes Moving Toward Sale Date
It's been a long time coming but it looks like we finally have a date for when Federal officials will auction off the homes belonging to disgraced Ponzi schemer Bernie Madoff. The NY Daily News reports that the three homes, a Manhattan penthouse on East 64th Street, a summer home in Montauk, Long Island, and an estate in Florida's West Palm Beach, will be listed after Labor Day. The Federal marshals have said they are soliciting applications from real estate brokers to act as agents. As we heard last month, in Manhattan, potential brokers were summoned to Madofff's apartment to check out the property and undergo a sort of group audition.Taken together the homes are worth more than $20 million. Proceeds from the sales will help to chip away at the billions owed to Madoff victims around the world. The homes will be sold unfurnished and Madoff's furniture and art will be sold separately. His three boats will also be sold. Madoff was sentenced to 150 years in prison in June. Most recently his longtime mistress announced that she is writing a book about their affair.
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