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Ruth Madoff's combined assets with her husband had a net worth of between $823 million and $826 million.She had $92.6 million in assets listed in her own name: [9] the $7 million penthouse on Manhattan's Upper East Side; an $11 million mansion in Palm Beach, Florida; a three-bedroom apartment in Cap d'Antibes on the French Riviera valued at $1.5 million; $45 million in municipal bonds and $17 ...
An additional $1.7 billion came from a settlement with JPMorgan Chase Bank, and the remaining funds came from investor Carl Shapiro, the Madoff family and their co-conspirators, the DOJ said.
Some of Madoff’s victims have also received compensation through Irving Picard, a court-appointed trustee in the Madoff case, who has distributed almost $14 billion to former Madoff customers.
Madoff pled guilty in 2009 to 11 felonies, and admitted he used his wealth management business to create a massive Ponzi scheme which enriched himself, his family and others. Madoff was sentenced ...
The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. [1] In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme.
The pension fund case is Retirement Program for Employees of the Town of Fairfield v. Madoff, FBT-CV-09-5023735-S, Superior Court of Connecticut (Bridgeport) [43] On July 28, 2011, Irving Picard, the receiver assigned to Madoff's Ponzi scheme, extracted a settlement from Tremont worth over one billion dollars. [193]
The fund disbursing money to the victims of Bernie Madoff’s legendary Ponzi scheme began its 10th and final distribution on Monday, putting another $131 million in the pockets of swindled investors.
The protagonist of Elinor Lipman's novel, The View from Penthouse B, published in 2013 by Houghton Mifflin Harcourt, loses her divorce settlement by investing it with Bernie Madoff. [ 212 ] Randy Susan Meyers 's novel, The Widow of Wall Street , published in 2017 by Atria Books , was a fictionalized account of the Madoff Ponzi scheme from the ...