The poor man is down to his last $70 million or so.
Madoff Claims He's Entitled to Keep $7M Manhattan Apartment
Monday, March 02, 2009
Dec. 17, 2008: Bernard Madoff, chairman of Madoff Investment Securities, returns to his Manhattan apartment after making a court appearance.
NEW YORK — Bernard Madoff and his wife claim they are entitled to keep a $7 million Manhattan apartment and an additional $62 million in assets.
Court papers filed on Monday state that Madoff and his lawyer say the Manhattan penthouse and money held in accounts of Madoff's wife, Ruth, are not subject to seizure.
The court papers say Madoff claims the apartment and the $62 million are unrelated to a $50 billion fraud Madoff has been accused of carrying out.
The $62 million includes $45 million in municipal bonds on deposit in an account held by Ruth Madoff and $17 million in her name at Wachovia Bank.
Madoff has been confined to the apartment under house arrest as the government investigates how he allegedly carried out the sweeping fraud.