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Bernie Madoff's Wife Shops for Downmarket Apartment

Convicted swindler Bernie Madoff used to live in a $7 million penthouse apartment. Now he occupies a 7.5' x 8' cell. And since his wife, Ruth, was booted from their four properties so the government can resell them to help pay back Madoff's victims, she's apartment hunting. She reportedly looked at this 481-square-foot space on New York's Upper East Side --a far cry from her 4,000-square-foot penthouse.

Ruth Madoff Goes Apartment Hunting

Ruth Madoff, the wife of disgraced Ponzi schemer Bernard Madoff, was kicked out of the $7 million penthouse she shared with her husband just weeks ago. At the end of June, "Bernie" was sentenced to 150 years in prison for bilking investors. Now the New York Post reports that Mrs. Madoff is apartment hunting and oh, how the mighty have fallen.

She's seen here leaving the Metropolitan Correctional Center in April after visiting her husband.

Mary Altaffer, AP

Federal authorities seized the Madoffs' $7 million duplex in this building, and most of the other Madoff belongings, including a $3 million home in Montauk, Long Island, a $23 million waterfront residence in Palm Beach and a Palm Beach condo worth $1 million, in early July. The properties will be sold in an effort to pay back some of what Madoff took from his victims.

Ruth Madoff was left with $2.5 million.

Mark Lennihan, AP

Before his trial, Madoff was placed on ankle-monitored house arrest in his 4,000-square-foot penthouse apartment on East 64th Street.

WENN.com

The massive penthouse included a library and three maid's quarters, as well as a $35,000 Lavar Kerman Persian carpet, $20,000 Chippendale-style tea table, various artwork and antiques and a collection of Chinese porcelain dating back more than 200 years.

WENN.com

Madoff's real estate broker reportedly checked out a 481-square-foot, 1-bedroom, 1-bathroom condo (asking price: $465,000) on New York's Upper East Side, not far from her former 4-bedroom (plus 3 maid's quarters), 5-bathroom penthouse.

trumpsalesandleasing.com

The apartment is in a building on East 90th Street called Trafalgar House. According to the listing, "all that's needed is a little TLC to transform the apartment into a lovely living space."

trumpsalesandleasing.com

The 1-bedroom's listing also touts its proximity to the subway, a form of transportation Madoff is going to have to get used to.

trumpsalesandleasing.com

Madoff's potential new apartment has just three rooms, but does include a dishwasher. There is also a laundry room in the building.

trumpsalesandleasing.com

U.S. marshals exit the building where former financier Bernard Madoff and his wife Ruth lived after seizing their duplex apartment under court order.

Spencer Platt, Getty Images

Convicted swindler Bernard Madoff exits federal court in March. He traded his $7 million penthouse for a jail cell.

Mario Tama, Getty Images

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Aspano004 12:06:37 PM Sep 18 2009

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It was sold fast and for more than the asking price. Hmmm... maybe because of the hidden contents somewhere on the property?

Aspano004 12:05:18 PM Sep 18 2009

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It was sold fast and more than the asking price. Hmmm... maybe because of the hidden contents somewhere on the property?

Berryfast 10:39:41 PM Aug 16 2009

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mzladysmiling...are you blind.....the woman hashad surgery....you think her skin is that smooth naturally??????? Come on!!!!!!!!!!!!!!!!!!!!!

Hiredshoe 04:24:53 PM Aug 01 2009

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Bernie is an excellent reason to bring back public flogging!

Painndasseve 03:05:47 PM Aug 01 2009

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im pretty sure the wife knew where the money came from .she is as much to blame for as her old man. anyway she needs to learn how to make a living just like the rest of us poor ppl. including the sons are also at fault they need to be behind bars too .thats all i have to say

GLacagoo 03:52:11 PM Jul 25 2009

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AAAH Ruthie, Ruthie, Ruthie, Honey, you are gonna need a job. Your 2 mil , won't last you a year. Not the way you are accustomed too. Honey, let me give you a little tip. Live on 800 a month and tell me what you could do? lmao

imbyart001 02:26:21 PM Jul 19 2009

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She doesn't deserve 2.5 million unless she worked for it. Will anyone here say she worked for it?

Ulvharleys 10:26:16 PM Jul 18 2009

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I HOPE SHE HID SOME MONEY FOR HERSELF!!

hmtgo 04:49:05 AM Jul 13 2009

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Madoff should be waterboarded untill he tells them where the money is. the victims must be made whole.

sweetass1179 09:14:24 PM Jul 12 2009

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i cant believe she thinks people are actually gonna feel sorry for her!she knew what her husband was doing and allowed it to go on,now that hes been caught she acts like she had no idea what was going on.BS!!!! both of them should be put on an island and have to fend for themselves. jail is too good for them,we are still giving him money to survive.

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310 comments