Feds seize Madoff's $7M penthouse

Published: Thursday, July 2, 2009 9:17 p.m. MDT
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Ruth Madoff broke her silence Monday when she said in a statement that her husband "stunned us all with his confession and is responsible for this terrible situation in which so many now find themselves."

Before she agreed on a deal with the government to resolve her finances a week ago, Ruth Madoff had indicated through lawyers that she planned to try to keep the penthouse and an additional $62 million in assets as unrelated to the fraud.

Before the fraud was exposed, the Madoffs had homes in Palm Beach, Fla., the south of France and the tip of Long Island along with the midtown Manhattan penthouse. They also traveled by private jet and yacht.

The couple met at their Queens high school and married in 1959. Ruth Madoff worked with her husband when he started his financial business in 1960 and she reportedly still had an office near his when the fraud was exposed.

Madoff has said he operated his fraud without the knowledge of his family.

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Mark Lennihan, Associated Press

The building in Manhattan where Bernard Madoff owns a penthouse is seen in this aerial view.

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