Madoff worth more than $820 million, document says

Bernard Madoff arrives at a federal courthouse Thursday. He pleaded guilty to conducting a Ponzi scheme.
Bernard Madoff, who pleaded guilty to operating a multibillion-dollar Ponzi scheme, is worth up to $826 million, according to a document filed with a federal court on Friday.

Madoff values his business — Bernard L. Madoff Investment Securities, which is currently being liquidated — at $700 million, said the document, which estimated his wealth totals at least $823 million. Real estate from around the world worth $22 million is listed, including a New York City apartment valued at $7 million and a home in Palm Beach, Florida, worth $11 million, another in Montauk, New York, worth $3 million and one in Cap d’Antibe, France, worth $1 million. All of the residences except for the Montauk home are listed as being bought by his wife, Ruth Madoff. Listings of other nonbusiness assets paint a luxurious picture of Madoff’s life: a 50 percent stake in a charter aircraft worth $12 million, a $7 million yacht in France, and more than $2 million in jewelry. The latter two, along with approximately $17 million in cash and three cars — a 1999 and 2001 Mercedes and 2004 Volkswagen — are listed under Ruth Madoff’s name. The document was posted Saturday on the Web site of the Wall Street Journal.

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Madoff was ordered to jail Thursday after pleading guilty to all 11 criminal counts in one of Wall Street’s biggest swindles ever. The Ponzi scheme is estimated to have bilked thousands of investors out of billions of dollars. The document was included in a filing Friday in connection with an appeal to have Madoff freed from jail until his sentencing, which is set for June 16. Madoff faces up to 150 years in prison.