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    Art Theft As Minor Catharsis: Madoff Sculpture Stolen

    Date: 30 Dec 2008 | | Views: 3791

    Source: The New York Post, by James Fanelli and Angela Montefinise

    How does it feel, Bernie?

    Swindler extraordinaire Bernard Madoff got a taste of his own medicine last weekend when a burglar stole a $10,000 statue from his posh, $9.4 million Palm Beach estate, according to a police report.

    The theft occurred sometime between 3 p.m. on Dec. 19 and 11:30 a.m. last Sunday, a week after Madoff confessed to ripping off $50 billion from investors in a decades-long Ponzi scheme.

    The five-foot, copper artwork overlooked the Madoffs' inground pool, and portrays two young lifeguards sitting on a raised stand.

    Madoff is currently under house arrest at his $7 million Park Avenue apartment.

    He also owns a $3 million oceanfront estate in Montauk, LI, which has been pummeled by severe beach erosion. The surrounding estates have been largely spared.

    The bad luck is hitting Madoff after decades of running a scheme that pulled in money from all over the world, often through hedge funds like Fairfield Greenwich, which lost $7.5 billion.

    The fund's owner, Walter Noel, has branches overseas. His niece, Bianca Haegler, a blond-bombshell, well-known Brazilian socialite, and her dad, Alex, reportedly steered Brazilian investors to Fairfield but were unaware of Madoff's alleged scam.

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