Restitution to Victims Might Be Coming Soon
The victims of Bernard Madoff’s Ponzi scheme, the largest in history, may finally receive some restitution from the proceeds of the sale of three houses seized from Madoff. The first of the three houses, located in Montauk, New York, has just been placed on the market and is said to be worth $7 million.
The four-bedroom, 3,000 square-foot house is constructed so that every room has a panoramic view of the Atlantic Ocean. There are also plans to sell Madoff’s former penthouse in Manhattan and his other home in Palm Beach, Florida.