Fairfield Freezes Madoff's Assets
Oh no you don't. Madoff's family will not be able to sell his assets until Fairfield gets a hearing.
Beleaguered Bernie’s family will not be unloading the disgraced financers assets until Fairfield gets its day in court over lost pension money.
The town of Fairfield filed a motion Monday for a temporary restraining order that prohibits Bernard Madoff, his family and business executives from selling items as the town seeks to recoup lost pension funds.
Fairfield lost $42 million in pension fund investments with Madoff when Madoff’s multibillion-dollar Ponzi scheme collapsed.
The restraining order, according to the Connecticut Post
, covers real estate, personal property and financial accounts of Madoff, his relatives and executives with Fairfield Greenwich Group
, Maxam Capital
and other firms that allegedly fed Madoff’s fund.
A hearing was set for April 13 to consider a permanent order.
Madoff is currently behind bars his bail was revoked earlier this month as he awaits sentencing. The judge said Madoff was a flight risk because he faces 150 year in prison at a June sentencing.
Copyright Associated Press / NBC Connecticut