The U.S. Marshall Service seized the disgraced former financier’s $7 Million Manhattan penthouse today.
Looks like Mrs. Madoff is going to have to find a new spot to call home.
“U.S. Marshal Joseph Guccione said the marshals arrived at the property at noon with a court order permitting them to take custody of the apartment and cause anyone there to move out.”
“Guccione said Madoff’s wife Ruth had been advised in advance of the marshals’ plans and was leaving the residence, surrendering all personal property.”
“She will be leaving,” he said. “Restitution for the victims is the government’s top priority.”
On Monday, the 71 year old Madoff was sentenced to 150 years in prison. He plead guilty in March to a multibillion-dollar Ponzi scheme that wiped out investors and charities.
Last week, Ruth Madoff agreed to give up all of her possessions in return for a promise that federal prosecutors would not go after $2.5 million she can keep. The money, though, is not protected from civil legal actions that might be pursued by a court-appointed trustee liquidating Madoff’s assets or by investor lawsuits.
I wonder if anybody is going to take her to court for the rest of that $2.5 million.
Click to view the original article on the U.S. Marshall’s Seizing Madoff’s Penthouse
RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com. SmartRules provides step by step guides to local rules and civil procedure for state courts & federal courts throughout the country.
Popularity: 5% [?]



