Peter. B Madoff, the infamous lawyer brother of Bernie Madoff - who set the headlines on fire with his alleged involvement in investment frauds and Ponzi schemes in 2009- has been convicted of helping his brother in his activities and has been sentenced to 10 years in prison.
Now that Peter Madoff is all set to go off to jail, he and his wife Marion Madoff have sold off their New York City apartment for $4.6 million. The house is located in the posh Upper East Side area of the city. Madoff has also pleaded guilty and agreed to pay back $143 billion as compensation for the fraud, reported Daily Mail.
Along with the sale of the apartment, the couple was also forced to sacrifice all their valuable possessions in the home. The $4.6 million raised from the sale of the residence has been turned over to the police, reported The New York Post.
"They wanted to take furniture, silverware and glasses - but the federal marshals packed up everything. They were surprised and shocked," a source told The New York Post.
Details of the Upper East Side home
The sixth floor apartment was purchased by the Madoff couple for $4,100,000 in June, 2004. The apartment comprises of 2 bedrooms and 3.5 bathrooms and sports a contemporary style. The place has a formal and spacious living room with a warm fireplace. A loft - like foyer also accounts for as another living room. The family or dining room has built in set of cabinets and a wine cooling system. The place also boasts of a well-designed kitchen with state-of-the-art appliances and is quite modern, reported Real Estalker.
Madoff, who was sentenced to jail Dec. 28, 2012, will be heading off to Otisville Prison in February and until then he and Marion will be living in a smaller place in Battery Park City, reported Radar Online.
