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Feds Seized Madoff Penthouse |
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Written by The News Agent
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Thursday, 02 July 2009 |
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It seems that the feds have got into work by seizing Madoff’s penthouse in Manhattan. According to news portals, they mentioned that this particular penthouse is worth approximately $7 million in market value. And when they took control of the house, Madoff’s wife was forced to move elsewhere. Typically, the feds changed all the locks and secured any access into the house.
Madoff was sentenced to a whopping 150 years in prison for the apparent Ponzi Scheme which he masterminded for more than 2 decades already. It seems that he cheated over $171 billion in his scheme, in one of history’s biggest Ponzi Schemes.
Personally, even though he was sentenced to prison, I believe that there is no retribution for the victims as the money cannot be recovered indefinitely.
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