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Madoff News: Bernie Won't Appeal Sentence, Ruth Moving On Up?
By
Jen Chung
Published Jul 9, 2009
Modified Jul 9, 2009
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By
Jen Chung
Published Jul 9, 2009
Modified Jul 9, 2009
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A lawyer for the $65 billion-dollar Ponzi scheme man says that there will be no appeal for 150-year sentence handed down to Bernard Madoff last week. Ira Lee Sorkin said, "The decision has been made, and that's it." Next up for Madoff is finding out where he'll spend the rest of his life—he requested to be sent to the Otisville federal prison. CNN Money notes that it's "70 miles northwest of New York City, where he used to reside in a $7 million apartment, ...and one of the closest medium-security prisons to New York City, where Madoff has family." Also, there's a "prison camp, textile factory, a full-time rabbi," and, according to a prison consultant, "one of the largest and most active religious programs for Jewish inmates in the Bureau of Prisons."
Speaking of apartments, Madoff's wife Ruth has been trying to look for an apartment, while denying any involvement in her husband's scheme. According to the Post, her broker just took a look at a one-bedroom place, going for $465,000, on East 90th Street—"The only unit listed for sale there is a one-bedroom, one-bathroom that takes up just 481 square feet -- 3,529 square feet less than her former four-bedroom duplex atop 133 E. 64th St., which federal authorities seized July 2. The fixer-upper is in serious need of renovations"—the listing mentions the unit needs "TLC"—"The hardwood floors are crying out to be refinished and repaired, the ceiling is missing large chunks of plaster, the walls are scuffed, the paint is peeling paint, and the cramped kitchen features orange linoleum on the floor and yellow Formica counters."
However, Madoff's lawyer scoffs, "Given her economic circumstances, it's completely ridiculous to even suggest that she would be looking to buy something." Yeah, she's totally looking for a rental—she knows how to ride the F train now, so maybe it's an outer-borough option!
Tagged
150-year sentence
Bernard Madoff
fraud
ponzi scheme
rental
Ruth Madoff
scam
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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