Feds Get $4.6M For Luxury Park Avenue Apartment, Seek To Unload Long Island Mansion For $4.5M In Connection With Madoff Ponzi Scheme Forfeiture Score
In New York City, the New York Post reports:
- The New York mansion that once belonged to the brother of Bernard Madoff is on the market for $4.5 million. Peter Madoff's Old Westbury estate on Long Island has been listed by the US Marshals Service. Madoff, who pleaded guilty last year to falsifying documents and lying to regulators as part of his brother's Ponzi scheme, was sentenced to 10 years in prison.
He was ordered to forfeit his family's assets as part of the plea deal.
The 1935 mansion has five bedrooms and five bathrooms. The property also boasts a tennis court, swimming pool and pool house.
The US Marshals Service has already sold Peter Madoff's Park Avenue apartment for $4.6 million. The proceeds are going to victims of the Ponzi scheme.