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Latest Business News

Feds seize Madoff penthouse, wife leaves

Thursday, July 02, 2009 6:55:14 PM
By LARRY NEUMEISTER

FILE - In this March 22, 2009 file photo, the building in midtown Manhattan in New York where Bernard Madoff and wife Ruth own a penthouse apartment is seen in this aerial view. The U.S. Marshals Service have taken possession of the $7 million Manhattan penthouse Thursday, July 2, 2009.  (AP Photo/Mark Lennihan, File)NEW YORK (AP) - Federal marshals seized disgraced financier Bernard Madoff's $7 million Manhattan penthouse on Thursday and forced his wife to move out and leave her possessions behind, including a fur coat she had asked to take with her, an official told The Associated Press.

Proceeds from a sale of the property and its contents could be used to help reimburse those who lost billions of dollars investing with Madoff before he confessed to running a Ponzi scheme.

U.S. Marshal Joseph Guccione said the marshals arrived at the property at noon with a court order permitting them to take custody of the apartment and to make anyone living there move out.


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