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Wednesday, December 7, 2022

Madoff Mailed Jewelry After Arrest


Date: Wednesday, January 7, 2009
Author: HFN Daily Report

Accused swindler Bernard Madoff mailed $1 million in jewelry to his family in the time following his arrest for running a $50 billion Ponzi scheme.

Sending the jewelry would be in violation of the asset freeze the court imposed on Madoff following his arrest. Madoff, 70, has remained free on bail.

His attorney argued Madoff and his wife sent the jewelry for Chanukah. His children Andrew and Mark Madoff alerted the prosecution about the jewelry.

The government is pressing a federal judge to revoke bail for Madoff and send him to jail. He has remained free to live in his New York penthouse apartment since the scandal broke.

Meanwhile, paraphernalia tied to the $17 billion investment business Madoff ran has appeared for sale online.

Clothing and stationary bearing the name of his company has gone up for sale on eBay.