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Feds Go After Madoff's Sons, Wife's Jewelry

US seeks payback of loans, along with gems, cufflinks

By John Johnson,  Newser Staff

Posted Mar 17, 2009 8:16 PM CDT
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(Newser) – The Madoff accounting continues. Authorities said today they intend to collect millions of dollars from Bernie's sons, about $2.6 million worth of his wife's jewelry, and 35 watches and cufflinks that belonged to the Ponzi schemer himself, the Daily News reports. Madoff lent son Mark $9.5 million, much of it just months ahead of his arrest, and son Andrew $22 million. While dad may not have collected, the government intends to, the News notes.

In a court filing today, the feds said they also will go after Madoff's stake in 20 businesses, including the Manhattan restaurant PJ Clarke's on the Hudson, and Sterling Equities, the parent company of the New York Mets. Last week, Madoff's attorneys pegged the couple's net worth at about $825 million, the Wall Street Journal notes.

Bernard Madoff arrives at Manhattan federal court Thursday, March 12, 2009, in New York.
Bernard Madoff arrives at Manhattan federal court Thursday, March 12, 2009, in New York.   (AP Photo/ Louis Lanzano)
Bernanrd Madoff arrives at federal court in New York Thursday, March 12, 2009.
Bernanrd Madoff arrives at federal court in New York Thursday, March 12, 2009.   (AP Photo/Mary Altaffer)
Bernard Madoff exits Manhattan federal court in New York on Tuesday, March 10, 2009.
Bernard Madoff exits Manhattan federal court in New York on Tuesday, March 10, 2009.   (AP Photo/Louis Lanzano)
Bernard Madoff arrives at Manhattan federal court, Thursday, March 12, 2009, in New York.
Bernard Madoff arrives at Manhattan federal court, Thursday, March 12, 2009, in New York.   (AP Photo/ Louis Lanzano)
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COMMENTS
Showing 1 of 1 comment
jaguarj
Mar 25, 2009 1:42 AM CDT
His wife only had 2.5 mil in jewels? I would have guessed alot more.

IRS gives victims a little relief
Bloomberg

 
Ponzi scheme • jewelry • defrauding investors • Bernard Madoff • Ruth Madoff • Bernard L. Madoff Investment Securities • Andrew Madoff • Mark Madoff

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