Madoff's former Palm Beach, Fla. house sold

AP News
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Posted: Oct 15, 2010 7:01 PM
Madoff's former Palm Beach, Fla. house sold

Federal marshals say the Palm Beach, Fla., home of jailed financier Bernard Madoff has been sold for $5.65 million after a year on the market.

The 8,800-square-foot home reportedly was sold to a California couple. The U.S. Marshals Service says in a release that the sale Friday marked the completion of the sale of Madoff's homes.

Federal officials seized the home and other Madoff properties in New York and France after Madoff was arrested in December 2008. The 72-year-old Madoff pleaded guilty to fraud charges and is serving a 150-year prison sentence.

Proceeds from the sale of his properties and other assets are being distributed to thousands of victims who lost billions of dollars.