Madoff Beach House To Be Sold

Collectively three properties are put up for sale. Obviously this is not enough to help the investors, but at least the government is trying to do something.

The lost amount in investment is nearly 65 billion dollars. However, according to Bloomberg, the three homes that are for sale could possibly bring about at least 21 million dollars.

Those three homes are Bernie Madoff's pant house, Mountauk Beach House and Palm Beach mansion. Bloomberg on its home page has a video of a rare look about those properties. See how the rich and corrupt rested after deceiving so many stock investors.

The tour guide in the Montauk, NY beach residence is not your typical tour guide, but a U.S. marshal, who according to the reporter clearly wants to sell the property. That property has 3000 sqaure feet, four bedroom, to rooms with panoramic views of the Atlantic ocean and 20 foot high sailings. The price is seven million dollars.

The U.S. Marshals are holding an open audition to sell Madoff's property. Thousands of real estate brokers have already responded, but they need to disclose how many high profile clients they have served.

Written by Armen Hareyan