Madoff's Palm Beach home under contract
One man's busted Ponzi scheme is another man's fortune. A California couple is under contract to purchase Bernie and Ruth Madoff's Palm Beach residence, according to the Palm Beach Daily News. The final price won't be disclosed until the sale closes, but the 8,753-square-foot home, which was originally listed for $8.5 million, was, as of a couple months ago, dropped to $6.5 million. The buyers' offer was reportedly more than $5 million. "Obviously this is good news,'' Roland Ubaldo, supervisory deputy of the U.S. Marshals Service in the Southern District of New York told the Daily News. ``We are under contract for the Palm Beach property, but, as they say, `it's not sold till it's sold.' ''