bernie-madoff

Bernie Madoff's Monochromatic Lair of Evil Revealed

Owen Thomas · 02/03/09 04:55PM

Is the greatest Ponzi schemer in history a bit obsessive-compulsive? From former employees, whispers of his quirks and predilections are emerging. And now, for the first time, we have a look at his offices.

Sleazeballs, Anyone?

cityfile · 02/03/09 03:06PM

Here's a way to help out a victim of Bernie Madoff's Ponzi scheme and amuse elderly Jewish men on the golf course in Palm Beach at the same time. You can now pick up golf balls with Madoff's mug on them. They're named "Sleezeballs," of course and, yes, we're totally buying a box to send to Walter Noel when his birthday rolls around in June. [Dealbreaker]

Inside Bernie Madoff's Lair

cityfile · 02/03/09 10:42AM

Fox Business has some pics from inside Bernie Madoff's offices at 885 Third Avenue. It's a horrifying sight, as you can see from the photo above. (So if you're in the market for an interior designer, this is one person you probably want to strike off your list.) A couple more pics below, but you can also watch the full video here.

Scam Artist and Lousy Tipper

cityfile · 02/03/09 06:58AM

And we were thinking Bernie Madoff's rep couldn't get any worse. David Patrick Columbia reports that Madoff typically paid with his American Express black card when he went out to eat, but he usually left peanuts for the people who served him. Reports a waiter at an unnamed Midtown eatery: "Everyone knows those people with that black card are the world's worst tippers. Bernie Madoff never once even left ten percent on his bill, and he came in here all the time." [NYSD]

Madoff Gets the SNL Treatment

cityfile · 02/02/09 03:52PM

Bernie Madoff landed on Saturday Night Live this past weekend with Fred Armisen playing the alleged scamster. The skit involves Madoff trying to get his friends/victims to come over to his Super Bowl party. You can watch the clip—and hear Armisen's excellent old-Jewish-guy-from-Queens accent—after the jump.

Madoff Victims Forced to Sell the Family Silver

cityfile · 02/02/09 12:02PM

You missed your chance to swoop in like a vulture and take advantage of some of the poor souls who lost everything to Bernie Madoff's Ponzi scheme. Over the weekend, Palm Beach's Kofski Antiques held a two-day "Madoff Estate" sale and offered up the possessions of two Madoff investors who lost their fortunes as part of the alleged fraud. Included in the mix was a $3,000 mink coat and $3,850 crystal horse head. Then there there was this set of Eureka Grand Baroque Sterling flatware, which went for a mere $350. Don't be too disappointed if you missed out, though. Kofski's owner says he has another Madoff sale in the works, as well as a sale by a "top executive of Lehman Brothers." Excellent! We're totally buying one of Dick Fuld's old squash racquets.

Madoff Judge Cracks Up

cityfile · 02/02/09 11:00AM

Bernie Madoff isn't just taking a psychological toll on members of his family and the people he's accused of defrauding. Judge James Peck, who is overseeing the liquidation of Madoff's firm as well as handling the bankruptcy of Lehman Brothers, was arrested and charged with third-degree attempted assault and second-degree harassment after allegedly slapping his wife at their Park Avenue apartment on Saturday evening. Peck was released without bail, although he'll be returning to court to face (another) judge on March 16th. [NYP]

Post Reporter Makes It to Bernie's Front Door

cityfile · 02/02/09 08:24AM

We thought we'd set a record when we made it past the police cordon at 133 East 64th Street and into Bernie Madoff's lobby with a delivery of Chinese food. But it looks like the New York Post can now lay claim to the title of having gotten closest to the penthouse of the Ponzi mastermind. A Post reporter posing as a real estate broker made it to the hallway just outside Bernie's apartment before he was arrested by cops on Saturday for trespassing. If anyone wants to pose as a refrigerator repairman, please let us know. [NYDN]

Kate's New Career Goal, Michael Phelps Apologizes

cityfile · 02/02/09 06:53AM

• Kate Moss has been telling friends that she wants to branch out into acting so she can become a "Hollywood star," and that she's already lined up an agent in New York. [Showbiz Spy]
• Michael Phelps has issued an apology after photos appeared this weekend in the News of the World showing him smoking weed. [NYP, NOTW]
• Bernie Madoff's grandkids are considering changing their last names. [P6]
John Thain was hardly the first or the last: Clive Davis, Martin Bandier, and Rolf Schmidt-Holtz have all spent obscene amounts in recent years to redecorate their offices, too. [R&M]
• Despite the fact her magazine is losing millions and has laid off dozens, Portfolio's Joanne Lipman insisted on flying first class to Davos. [P6]

Madoff's Victims Now Both Real and Imaginary

cityfile · 01/30/09 04:28PM

Bernie Madoff has a new legal foe to contend with. Jonathan Lee Riches, who is currently in prison in South Carolina for wire fraud, has submitted papers to a judge in which he claims he handed over money to Madoff, but then lost it when Bernie put it in a "Swiss account Ponzi." The best bit: "Riches claims he met Madoff in 2001 via the online dating site eHarmony.com and the two had an intimate relationship." Before you get too alarmed, you may want to keep in mind that this is the same man who sued Michael Vick for $63 billion in 2007 for stealing his pit bulls and using the proceeds to buy missiles from Iran. [Dealbook]

Bernie Madoff: The Floorplan

cityfile · 01/30/09 02:14PM

Clusterstock got its hands on the floorplan of Bernie Madoff's penthouse at 133 East 64th Street, which the Post reported today is expected to hit the market in the near future. (There are two penthouses in the building; we understand Bernie's is the one on the left.) Expect tours of the apartment to be very awkward: Since Bernie can't actually leave the place, he may have to hang out in another room while prospective buyers take a look around.

Understatement of the Day

cityfile · 01/30/09 12:17PM

Mort Zuckerman's foundation lost $30 million when he handed over funds to money manager Ezra Merkin, who in turn invested the money with Bernie Madoff. So has Mort had any words with Merkin, who he's publicly promised to bury in a legal avalanche? Indeed he has! "I had one brief conversation," he tells the Financial Times. "I would describe it as intense." [FT]

Madoff Penthouse May Be Market-Bound

cityfile · 01/30/09 08:03AM

• Several top brokers have reportedly visited Bernie and Ruth Madoff's penthouse at 133 East 64th Street to assess its value in anticipation of a sale. The four-bedroom, five-bathroom apartment could go for $8 million or so. [NYP]
• The Sloane Mansion has undergone a $10 million price cut. It's now listed with Paula Del Nunzio for $54 million. [NYO, BHS]
• Investor Amit Ben-Haim's penthouse at 15 CPW, which was listed at $80 million last year before it was taken off the market, is now sporting a much more modest $47.5 million price tag. [Real Estalker, Sotheby's]

Bonus Fallout, Dismal Economic Data

cityfile · 01/30/09 07:17AM

Andrew Cuomo may demand the return of $4 billion in bonuses paid by Merrill Lynch just before it was acquired by Bank of America. [BN]
• U.S. GDP shrank 3.8% in the fourth quarter, the most since 1982. [BN, NYT]
• Two senators have introduced legislation to regulate hedge funds. [NYT]
• A handful of ex-Merrill execs were victims of Bernie Madoff. [WSJ]
• More layoffs at Morgan and Goldman are in the works. [Dealbreaker]
• A silver lining to the recession (at least for non-lawyers): Corporate firms are dropping rates and looking at "alternative billing practices." [NYT]
• "Private equity is not dead," says Henry Kravis. Glad to hear it! [DB]

Bernie Begins to Buckle

cityfile · 01/29/09 02:09PM

Bernie Madoff isn't so happy he's being forced to spend his days and nights confined to his $7 million Upper East Side co-op. "I'm a prisoner in my own house!" Madoff reportedly told a friend. "I can't go anywhere! I'm stuck here all day!" Apparently Bernie is particularly annoyed that "he can't even go outside just to go to the corner, or get something to eat." That's what Chinese delivery is for, silly! But as soon as we figure out how to bottle fresh air, we'll be sure to send that over and see if we have better luck this time. [NYP]

JPMorgan's Madoff Problem, Cuomo Turns Up the Heat

cityfile · 01/29/09 07:16AM

• JPMorgan had concerns about Bernie Madoff this fall and decided to pull its own money from Madoff's fund. Why didn't the bank inform its clients? [NYT]
Andrew Cuomo plans to expand the scope of his investigation into the bonuses paid by Merrill Lynch. [WSJ]
• BofA is planning to defer bonus payments to some staff this year. [FT]
• UBS has cut its bonus pool for 2008 by more than 80 percent. [BN]
• Wall Street bonuses totaled $18.4 billion in 2008, down from about $33 billion in 2007. [NYT, BW]
• Last year will go down as the worst for new home sales since 1982. [WSJ]
• Ford reported a net loss of $5.9 billion for the fourth quarter. [CNN]
• Interested in a Bernie Madoff action figure? You're in luck. [Clusterstock]

Marisa Noel Brown Prays for a Miracle on East 78th

cityfile · 01/27/09 11:14PM

Marisa Noel Brown, the daughter of disgraced hedge funder Walter Noel, and her husband, Matt, may be looking to extricate themselves from their lavish Upper East Side townhouse. Marisa and Matt (who worked for his father-in-law's Fairfield Greenwich Group before Bernie Madoff came along) purchased the home at 12 East 78th Street for $13.5 million in 2008. They took out a hefy $9 million mortgage to do it, and have since spent millions more renovating the townhouse with its "pale gleaming Indiana limestone" facade. (The inside now has much more "open space" and a "lot of light.")