Bernie Madoff kept $45 million in municipal bonds while Walter Noel put $7.5 billion with Bernie. I wonder if Walter can get a refund for that Harvard law degree?
Madoff seeks to keep NYC penthouse, $62M in assets
NEW YORK (AP) — Bernard Madoff is seeking to keep a $7 million Manhattan penthouse and an additional $62 million in assets, saying they are unrelated to the fraud that authorities say cost victims more than $50 billion. In court papers filed Monday in U.S. District Court in Manhattan, Madoff and his lawyer claim the apartment, $45 million in municipal bonds and $17 million more in a separate account all belong to Madoff’s wife, Ruth. The bonds in an account held by Ruth Madoff at COHMAD Securities Corp. and about $17 million held by her in a Wachovia Bank account “are unrelated to the alleged Madoff fraud and only Ruth Madoff has a beneficial interest in these assets,” Bernard Madoff and lawyer Ira Sorkin said, according to the papers.
Despite what her lawyer says, I think Ruthie’s going to have a hard time demonstrating that she earned the $10 million apartment, $45 million in bonds and $17 million in “other assets” from her kosher cookbook sales, in which case, she won’t be be allowed to keep them.