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Tag: madoff victims

Feds Sell Off $67.8 Million in Madoff’s Belongings So Far

Bernie Madoff/facebook photo

Bernie Madoff/facebook photo

By Allan Lengel
For AOL News

While 72-year-old swindler Bernie Madoff serves a 150-year sentence behind bars, federal authorities are working to use his ill-gotten gains to repay his many victims.

On Wednesday, in the latest court filing in U.S. District Court in Manhattan, the U.S. Attorney’s Office said the government so far has recouped about $67.8 million through the sale of his belongings, though the figure obviously falls far short of the $50 billion or so Madoff swindled from investors.

The government tally so far, according to court documents, includes $7.3 million from the sale of his New York City co-op; about $59 million from the sale of his four-bedroom, 1.2-acre home in Montauk, N.Y.; $1.4 million for his Cap d’Antibes apartment in the French Riviera; and cars, boats, a securities account and personal property.

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