Lifestyle

Madoff Brother's Home Listed For $4.495M

May 31 2013 | 10:16am ET

The U.S. Marshals Service has already sold off Bernard Madoff's homes. Now, it has turned its attention to the Long Island mansion formerly occupied by his brother, Peter.

The Marshals last month listed the Old Westbury, N.Y., home for $4.495 million. It features a 600-square-foot formal living room, library, tennis court and two-bedroom pool house.

In addition, the home's contents have been cataloged and tagged; they will be sold at auction after the house itself is sold. Proceeds from both sales will go towards paying off Bernard Madoff's victims.

Peter Madoff, his brother's chief compliance officer, began a 10-year prison sentence in February. He pleaded guilty last year to aiding his brother's $65 billion Ponzi scheme, but said he had no knowledge of the fraud until it collapsed.

The Marshals have already sold Peter Madoff's primary home, a two-bedroom apartment in Manhattan, for $4.6 million. He and his wife owned the Long Island home for more than 20 years.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR