Bernard Madoff seeks to keep Manhattan penthouse and $62 million in bonds and cash
Court papers filed Monday state that Madoff and his lawyer say the Manhattan penthouse and money held in accounts of Madoff’s wife, Ruth, are not subject to seizure. The court papers say Madoff claims the apartment and the $62 million are unrelated to a $50 billion fraud Madoff has been accused of carrying out.
The $62 million includes $45 million in municipal bonds on deposit in an account held by Ruth Madoff and $17 million in her name at Wachovia Bank.
Madoff has been confined to the apartment under house arrest as the government investigates how he allegedly carried out the sweeping fraud.
Follow Emirates 24|7 on Google News.