Madoff's Montauk Home to Be Inventoried Weekly

By Dan Rattiner

Posted 01/22/09

The prosecutors felt so strongly about losing the request that Bernie Madoff be jailed after he mailed out all of his family's jewels to friends and family, in violation of his bail, that they appealed the decision. The appeal judge's decision involves Montauk.

The appeal judge is Lawrence McKenna, a federal judge in Manhattan. He looked at the earlier decision, which rejected the request to revoke bail based on the fact that Madoff certainly is no threat to flee. He is currently under guard, confined to his Manhattan Park Avenue apartment. He wears an ankle bracelet. He could not leave if he wanted to because the apartment is surrounded 24/7 by reporters. And even if he got out, his face is so well known he'd be ratted on.

While rejecting the request, the earlier judge said that in addition to the $10 million worth of possessions in escrow against if Madoff did flee, he would add further restrictions. The possessions in Madoff's apartment are to be inventoried. And every object in it is to be inspected once a week to see that it is still there. Furthermore, the personal property of his wife in the apartment was to be included. Finally, all outgoing mail from the Madoff apartment is to be checked, to make sure nothing further is sent out.

The appeal judge upheld this decision, but added a still further restriction. Madoff's summer home, on the Old Montauk Highway in Montauk, is also to be inventoried to make sure that nothing in it is removed. It, too, is to be inspected by agents once a week to see to it that everything is still there. So it is likely that here in Montauk, in the middle of winter, there will be a little boost in business. The agents have to have lunch, maybe at the Shagwong. They might want to read Dan's Papers or other newspapers. Maybe one of them has an ache or pain and needs a prescription at White's.

And, of course, the agents' limos will be whooshing through the Hamptons every week. Perhaps they'd need to stop for gas somewhere.

Madoff's other home, in Palm Beach, will receive the same treatment. Of course, it is in season down there, so it would be a bit more fun for the agents.