How Much Does Madoff Still Have?
The Securities and Exchange Commission was given a list of disgraced businessman Bernard L. Madoff's personal assets last week, as government regulators try to size up the remaining wealth of the alleged Ponzi scheme operator.
Madoff handed over an accounting of all of his investments, loans, lines of credit, business interests, brokerage accounts and other holdings, including possible offshore accounts. According to federal court documents, his assets total an estimated $200 million to $300 million, but federal regulators are refusing to make the list public.
While that debate rages, the Post Investigations blog decided to round up what is known about Madoff's holdings from public records and published accounts:
- A Palm Beach, Fla., mansion located at 410 N. Lake Way. Madoff's wife, Ruth, is the listed owner on the 8,700-square-foot property, which was purchased in 1994 for $3.8 million. The two-story, five-bedroom and seven-bath home features a boat dock, a spa and an in-ground pool. Price tag: $9.4 million (Source: Palm Beach County Property Appraiser)
- A pricey New York penthouse on the Upper East Side, located at 133 E. 64th St., No. 12A. Madoff is currently under house arrest in the apartment after posting $10 million cash bail and is under 24-hour supervision. Madoff's neighbors in the building have included "Today" show host Matt Lauer and adverstising executive, developer and Kennedy campaign adviser Frederic S. Papert. Madoff bought the apartment in 1990 for $3.325 million. Price tag: $7 million. (Source: New York County Real Estate records)
- A 55-1/2-foot wooden fishing boat, purchased in 1977 for $462,000 (restoration, upkeep and docking costs not included). It was built in 1969 and nicknamed "Bull." The Coast Guard-registered vessel, which weighs roughly 37 tons and goes by the call sign WY7449, is docked in Palm Beach, Fla. It was built by Rybovich & Sons, a high-end boat building company owned by South Florida businessman H. Wayne Huizenga Jr. (Source: U.S. Coast Guard)
- Country club memberships in Palm Beach, Fla., and Amagansett, N.Y. The reported initiation fee at the Palm Beach Country Club is $300,000 (not to mention annual dues) and the Glen Oaks Country Club on Long Island charged at least $40,000 a decade ago. (Source: Associated Press, New York Times)
- An East Hamptons, N.Y., getaway, located at 216 Old Montauk Highway on Long Island. Madoff has owned the beachfront home in Suffolk County since 1981 and was known for throwing an extravagant annual party for his employees on the weekend following the Fourth of July. Madoff paid about $17,000 per year in taxes on the property. Price tag: $3 million. (Source: East Hampton Star)
- Madoff's 17th floor New York office, in the prestigious Lipstick Building, an oval red-granite tower in midtown Manhattan. Price tag: $3 million to $5 million. (Source: Associated Press)
- From vintage watches from George Somlo, Tiffany & Co. wedding bands and Savile Row suits, Madoff apparently spared no expense when it came to personal accoutrements. He also owns a gray outfitted Brazilian-built Embraer Regional Jet 145, which costs roughly $29 million, along with stock in BLM Air Charter. (Source: New York Magazine, Fortune)
- Among Madoff's overseas holdings: A small villa overlooking Cap d'Antibes on the French Riviera; a Mayfair office in London; and a yacht on the Mediterranean. His office at 12 Berkeley Street in London is "modest," according to the Evening Standard, but still pricey. And Madoff had stored millions in capital in the British subsidiary. (Source: Evening Standard, New York Times)
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