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March 16, 2009

Madoff Lawyers File an Appeal for his Release
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Attorneys for Bernard Madoff have filed an appeal to challenge a judge’s
decision to keep the former chairman of NASDAQ in jail until his
sentencing in June. On Thursday, Madoff pleaded guilty to running the
biggest Ponzi scheme in history, defrauding investors of $64 billion. He
faces up to 150 years in prison. Meanwhile, newly released court
documents show Madoff and his wife had a net worth of over $800 million
at the end of last year. Their assets included homes in Manhattan, Palm
Beach and the French Riviera, a $7 million yacht, a $2 million fishing
boat and $2.6 million in jewelry. Madoff’s wife is trying to keep nearly
$70 million worth of assets, including a penthouse Manhattan apartment,
claiming her money has nothing to do with her husband’s scheme.



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