Madoff Assets Top $1B

Trustee seeks Bernie's UK stocks, but $1M French home likely out of reach
By Neal Colgrass,  Newser Staff
Posted Mar 23, 2009 9:10 PM CDT
In this March 12, 2009 file photo, Bernard Madoff arrives at Manhattan federal court in New York.   (AP Photo/ Louis Lanzano, file)
camera-icon View 5 more images

(Newser) – The trustee digging up Bernard Madoff's assets has uncovered another $75 million in a Gibraltar bank account, pushing the total above $1 billion, the Wall Street Journal reports. In a civil hearing today, Assistant US Attorney Barbara Ward discussed the pursuit of other Madoff assets, saying France will likely seize a $1 million property in Cap d'Antibes to reimburse French Madoff victims.

US attorneys are working on the Madoff case with British organized crime police, Ward said. "There may be criminal implications," she explained during arguments over the trustee's right to claim a London firm's stock, listed by Madoff as an asset, Reuters reports.