Madoff lawyer says client will provide asset list

Financial Crisis Posted on

An attorney for Bernard Madoff said the disgraced Wall Street money manager would give the Securities and Exchange Commission a list of his personal assets by 5 p.m. EST Wednesday to comply with a court order. The list will provide an account of property that could eventually be tapped to make restitution to victims of what authorities say was a massive Ponzi scheme.

The SEC declined to comment on whether it received the list or would eventually disclose its contents to the public.

Madoff's personal wealth is said to be substantial. He had mansions in the Hamptons and Palm Beach, Fla., a penthouse in Manhattan and a handful of luxury yachts. His firm operated proprietary stock trading desks in New York and London that were supposedly investing the family's vast fortune.

Still, those assets would likely cover only a fraction of the billions of dollars that investors entrusted to Madoff.

Law firms representing Madoff's clients said they were nonetheless still eager to see what might be available to repay victims.

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