News / Law
MADOFF MOVES TO HARLEM TO SAVE MONEY?
Due to the liquidation of his assets, swindler Bernie the “Baller” Madoff may soon be thrown out of his 5 Star 64th Street Penthouse and have to find new digs to call home, and is looking at possible locations in Harlem
In an effort to liquidate Madoff's assets, lawyers working for a Federal Bankruptcy trustee have been in touch with top New York real estate brokers to try and put a dollar value on Madoff’s 4 bedroom, five bath home. Although the unit comes complete with a library and sitting room and could fetch around $8 million, that's just a drop in the bucket compared to the billions he swindled out of investors over the last three decades.
With declining real estate prices dropping all over the world, the brokers are trying to determine the apartment’s actual value and issue a report back to Irving Picard, the trustee appointed by federal bankruptcy Judge James Peck to liquidate items that have been seized and placed under the control of the court.
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