Wednesday, March 18, 2009

The Search for Madoff Assets Continues

For those who worried that Madoff's guilty plea would stop the hunt for assets, have no fear. Prosecutors have announced that they would seek to recover more assets from the Madoffs, including those held by his wife Ruth Madoff.

An interest in a real estate fund (unvalued), 31 million in loans to Madoff's sone, interests in 20 businesses, 2.6 million in jewelry. Another article mentioned 600,000 in silverware.

I don't know why the image of the government taking the Madoff's silverware strikes me a funny, but it does. But $600,000 in silverware is not funny at all).

Interesting aside. The real estate fund investment is owned by Fred Wilpon, Madoff victim and owner of the NY Mets. How the heck does that happen? They invested with each other? That is certainly interesting.

The NYT has more.

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