Madoff’s House for sale

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Before Bernard Madoff was sentenced to 150 years for fraud yesterday, the courts began liquidating his real estate portfolio to pay back his victims.

On Friday, three days before Madoff received his sentence, Judge Denny Chin for the Southern District of New York ruled that U.S. Marshals could begin selling seized Madoff homes around the world. He and his wife, Ruth, have properties on the Upper East Side and in the Hamptons, Palm Beach, Fla., and France.

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Billionaires Burn Israeli Savers on N.Y.and U.K deals

Jan. 14 (Bloomberg) — Israeli pension funds helped diamond mogul Lev Leviev snap up Manhattan real estate, including the former New York Times building, in 2007. Now they’re sharing in his losses as property prices plunge, dragging down the value of corporate bonds that backed the deals.

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