Inside the Multi-Million Dollar Mansions of Bernie Madoff
New charges related to the Ponzi scheme expected soon.
Sept. 9, 2009— -- The lavish two-story Manhattan penthouse apartment where Bernie Madoff was confined during his house arrest and his luxury waterfront estate in Palm Beach offer the latest glimpses into the Ponzi scammer's extravagant lifestyle, funded by his $65 billion fraud.
U.S. Marshalls opened the doors to the properties this week, providing the first tours of the residences purchased with money stolen from Madoff's many victims.
Click here to go behind the scenes of Brian Ross' investigation into Bernie and Ruth Madoff.
The Manhattan property's décor spares no expense – there is a baby grand Steinway piano, four fireplaces, antique rugs and a custom-made bed and mattress in the master bedroom, among other fine furnishings.
"This piece of property is the crown jewel of all four of his properties," said U.S. Marshall Roland Ubaldo on a tour of the penthouse this week. "[Madoff] probably did his scheme out of this apartment."
Madoff's den is paneled in cherry and features a leather bull, apparently his personal trademark. Then there are his and her closets, where Madoff kept his 40 pairs of handmade Belgian shoes, and boxes of evening wear and designer clothing packed away, prepared for auction. A wraparound terrace overlooks southern Manhattan.
Click here for complete Blotter coverage of Madoff and his Ponzi scheme.
The Florida estate boasts a stunning view of downtown Palm Beach and comes complete with a privately-owned 80-foot dock, sun deck, and swimming pool, in addition to 6500 square feet of indoor space. Each of the five bedrooms has its own private bath. The bull motif – including memorabilia, statues and paintings – is continued through the home.
U.S. Marshals are hoping to sell the homes, as well as three of Madoff's boats – the Bull, the Sitting Bull and the Little Bull (which have custom-designed cabins by the same interior designer who did the homes) – for $21 million. The money will go towards compensating Madoff's victims.
Madoff's other property – a luxury beachfront home in the Hamptons, Long Island – went on the market last week, with an asking price of $8.75 million.
CLICK HERE FOR A TOUR OF BERNIE AND RUTH'S MONTAUK BEDROOM.
U.S. Marshal Joseph R. Guccione said the goal is to get the homes for up for sale soon to "minimize the amount of time they remain in our inventory and maximize the return to the victims."
New Charges Expected
New charges in the Madoff Ponzi scheme are expected soon, and the question is whether members of his family will be named as co-conspirators.
Investigators say that out of all the family members who benefited from the scheme, Madoff's brother Peter is the most likely to face criminal charges in the next round of indictments.
Click here for complete Blotter coverage of Madoff and his Ponzi scheme.
When confronted by ABC News this week, Peter, who served as the chief compliance officer for Madoff's firm and was responsible for certifying to the SEC that everything was legitimate, said, "I have no comment."
And even though her husband's crimes paid for her life of luxury, investigators say there is so far no evidence that Ruth Madoff played an active role in the Ponzi scheme.
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New charges in the Madoff Ponzi scheme are expected soon, and the question is whether members of his family will be named as co-conspirators.
Investigators say that out of all the family members who benefited from the scheme, Madoff's brother Peter is the most likely to face criminal charges in the next round of indictments.
Click here for complete Blotter coverage of Madoff and his Ponzi scheme.
When confronted by ABC News this week, Peter, who served as the chief compliance officer for Madoff's firm and was responsible for certifying to the SEC that everything was legitimate, said, "I have no comment."
And even though her husband's crimes paid for her life of luxury, investigators say there is so far no evidence that Ruth Madoff played an active role in the Ponzi scheme.