Weekly News via Email
   Set as homepage | Add to favorites | Customer Service | Subscribe Now | Place an Ad | Contact Us | Sitemap Monday, 12.22.2014
Classifieds
News Archive
Su Mo Tu We Th Fr Sa
 1  2  3  4  5  6  7
 8  9  10  11  12  13  14
 15  16  17  18  19  20  21
 22  23  24  25  26  27  28
 29  30  31
Online Extras
Site Services
Around Bend
Outdoor Fun
Travel Info
Shop Local




Members Of



Poll: Today's Live Poll
Email to a friend | Print this | PDF version | Comments (0 posted) 
  Blogger |   del.icio.us |   digg |   newsvine

Mar 17,2009
Madoff mansion said protected from seizure
by UPI

PALM BEACH, Fla. -- A homestead exemption granted to Ruth Madoff on her Palm Beach, Fla., mansion may make it harder for U.S. officials to seize the home, experts say.

Madoff, wife of admitted financial fraudster Bernard Madoff, filed for and was granted a 2009 homestead exemption on her $9 million mansion, which prosecutors are seeking to confiscate on behalf of the victims her husband's massive Ponzi scheme, The Palm Beach Post reported Tuesday.

"They're furious about it," Guy Fronstin, a Boca Raton, Fla., attorney representing 63 defrauded Madoff investors, told the newspaper. "They are saying, 'We are destitute and she's still living a lavish lifestyle.'"

"The Florida Constitution provides that a civil creditor cannot force the sale of a person's homestead to collect a civil judgment," Jonathan Alper, an Orlando attorney who edits a Florida blog, told the Post. "There is no dollar limitation so that homestead properties are exempt from forced sale by creditors regardless of how much money the debtor invests in his homestead."

Bernard Madoff, 70, pleaded guilty last week to securities fraud, perjury and nine other charges stemming from his estimated $50 billion investment scam, and will be sentenced in June, prosecutors said.

Copyright © 2009, by United Press International. All Rights Reserved.

550 times read

Related news
Ruth Madoff to contest home seizures by UPI posted on Apr 08,2009

The Ponzi king by The Milwuakee Journal Sentinel posted on Mar 16,2009

U.S. seeks Madoffs' four homes, assets by UPI posted on Mar 16,2009

Madoff remains jailed, appeals court rules by UPI posted on Mar 20,2009

Taking Stock: Madoff victim lacks resources for recourse by Malcolm_Berko posted on Feb 25,2009

Did you enjoy this article? Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00 (total 19 votes)

Market Information
Breaking News
Most Popular
Most Commented
Featured Columnist
Horoscope Guide
Aquarius Aquarius Libra Libra
Aries Aries Pisces Pisces
Cancer Cancer Sagittarius Sagittarius
Capricorn Capricorn Scorpio Scorpio
Gemini Gemini Taurus Taurus
Leo Leo Virgo Virgo
Local Attractions
Bend Visitors & Convention Bureau
Bend Visitors & Convention Bureau

Mt. Bachelor Resort
Mt. Bachelor Resort

Les Schwab Ampitheater
Les Schwab Ampitheater

Deschutes County Fairgrounds
Deschutes County
Fairgrounds

Tower Theatre
Tower Theatre

The High Desert Museum

Advertisements



Deschutes County

Google  
  Web    BendWeekly.com
© 2006 Bend Weekly News
A .Com Endeavors, Inc. Company.
All Rights Reserved. Terms under
which this service is provided to you.
Please read our Privacy Policy. Contact us.
Bend Weekly News & Event Guide Online
   Save the Net
Advertisement
External sites open in new window,
not endorsed by BendWeekly.com
Subscribe in NewsGator Online
Add to Google Add to MSN Add to My AOL
What are RSS headlines?