Look for land sales on Tomac Avenue and Cherry Valley Road, eventually.
Separately, Irving Picard, the court-appointed trustee in charge of recovering assets for Mr. Madoff’s investors, in October alleged in a civil lawsuit that four Madoff family members who worked at the Madoff firm used it as a “piggy bank” to pay for personal expenses such as homes, cars and boats, as well as credit-card charges for restaurants and vacations.
The trustee’s lawsuit also alleged that Peter Madoff deposited $32,146 into his investment accounts at the Madoff firm, yet withdrew more than $16 million because of fabricated stock trades. Andrew Madoff allegedly invested slightly less than $1 million into his investment accounts and withdrew $17 million, the result of “brazenly fabricated transactions,” Mr. Picard’s suit says. Mark Madoff invested $745,482 into his accounts and redeemed $18.1 million, the suit alleges.