UPDATE 3-US Marshals seize Madoff mansion, boats in Florida

Wed Apr 1, 2009 11:59pm BST
 
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* Agents swoop on Madoff's $9.4 million Palm Beach mansion

* Seizure of Palm Beach home follows confiscation of boats

* Home, boats on list of property "subject to forfeiture" (Updates with seizure of Madoff Palm Beach home)

By Hans Deryk

DAVIE, Fla., April 1 (Reuters) - U.S. Marshals on Wednesday seized a $9.4 million mansion in Florida belonging to disgraced Wall Street financier Bernard Madoff and his wife after earlier confiscating two of the couple's leisure boats.

"We're seizing the property as we speak," Barry Golden of the U.S Marshals Service told Reuters, as agents moved into the luxurious house at 410 North Lake Way, Palm Beach on Florida's Intracoastal Waterway.

CBS TV showed federal agents entering the home, which is tucked behind a towering ficus hedge in the exclusive beach enclave, to make an inventory of its contents. The backyard pool is fringed with palms and a flowering bougainvillea.

Madoff, a 70-year-old former Nasdaq stock market chairman, has been charged with operating the biggest investment fraud on Wall Street, cheating private investors, charities and pension funds out of an estimated $65 billion.

The U.S. Marshals swooped on the Madoff's Florida winter getaway after seizing two boats belonging to them.  Continued...

 

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