Madoff Home On Market: Peter Madoff, Brother Of Bernie Madoff, Old Westbury Home Hits Long Island Real Estate Market [PHOTOS]

on May 28 2013 10:47 AM
  • Former Home of Peter Madoff
    The former Long Island home of Peter Madoff, the brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the US Marshals Service. Shawn Elliot Luxury Homes & Estates
  • Former Home of Peter Madoff
    The former Long Island home of Peter Madoff, the brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the US Marshals Service. Shawn Elliot Luxury Homes & Estates
  • Former Home of Peter Madoff
    The former Long Island home of Peter Madoff, the brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the US Marshals Service. Shawn Elliot Luxury Homes & Estates
  • Former Home of Peter Madoff
    The former Long Island home of Peter Madoff, the brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the US Marshals Service. Shawn Elliot Luxury Homes & Estates
  •  Former Home of Peter Madoff
    The former Long Island home of Peter Madoff, the brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the US Marshals Service. Shawn Elliot Luxury Homes & Estates
  • Former Home of Peter Madoff
    The former Long Island home of Peter Madoff, the brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the US Marshals Service. Shawn Elliot Luxury Homes & Estates
  •  Former Home of Peter Madoff
    The former Long Island home of Peter Madoff, the brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the US Marshals Service. Shawn Elliot Luxury Homes & Estates
  • Former Home of Peter Madoff
    The former Long Island home of Peter Madoff, the brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the US Marshals Service. Shawn Elliot Luxury Homes & Estates
  • Former Home of Peter Madoff
    The former Long Island home of Peter Madoff, the brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the US Marshals Service. Shawn Elliot Luxury Homes & Estates
  • Former Home of Peter Madoff
    The former Long Island home of Peter Madoff, the brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the US Marshals Service. Shawn Elliot Luxury Homes & Estates
  • Former Home of Peter Madoff
    The former Long Island home of Peter Madoff, the brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the US Marshals Service. Shawn Elliot Luxury Homes & Estates
  • Former Home of Peter Madoff
    The former Long Island home of Peter Madoff, the brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the US Marshals Service. Shawn Elliot Luxury Homes & Estates
1 of 12

The former Long Island home of Peter Madoff, the younger brother of convicted Ponzi scheme operator Bernie Madoff, has been listed for sale by the U.S. Marshals Service.

Priced at $4.5 million, the home is located at 34 Pheasant Run, Old Westbury, New York, and was the former residence of Peter Madoff, who served as a chief compliance officer for his brother’s company before he pleaded guilty last year to a long list of crimes, including falsifying documents and lying to regulators. Madoff received a plea deal and was sentenced to 10 years in prison for his part in the fraud, while Bernie Madoff was sentenced to 150 years.

Since their conviction, the government has seized all the Madoff’s assets in an attempt to pay back those who have fallen victim to the scheme. The U.S. Marshals Service took possession of the home in January.

The Old Westbury property boasts a long, winding driveway; a tennis court; a two-bedroom pool house surrounded by extravagant gardens; a vast array of antiques in its hallways; and marble in hues of lapis and gold throughout the ground floor.

The house is being sold through a real estate broker, and, when it sells, all of the items still inside will be sold at auction.

Other properties owned by the brothers have already been sold, including Bernard Madoff's Manhattan apartment, which sold for $8 million, and Peter Madoff's Park Avenue apartment in New York, which sold for $4.6 million.

More News from IBT MEDIA