Final Madoff Trophy Home Goes Legit

Crime doesn't pay -- at least not for the criminal, in this case. The last of three homes owned by convicted swindler Bernie Madoff's family has been sold by the U.S. government for around $5 million.

Located in bejeweled Palm Beach, Fla., the 8,800-square-foot, 5-bedroom house is not far from the Palm Beach Country Club where the crooked Madoff shook down fellow members for gelt, or what he liked to call "investments." Technically, the lavish spread -- constructed in the 1970s and renovated in the 1990s -- was owned by Bernie's wife, Ruth Madoff. The new owners are reportedly an unidentified couple from California.The two other Madoff properties seized and offloaded by the feds are a Montauk, N.Y., home, which sold in two weeks for $9.41 million; and a Manhattan penthouse, which reaped $8.8 million after around five months on the market.

For observers interested in tracking the rest of the compulsively materialistic Madoffs' ill-gotten booty, a second auction of their pricey junk is scheduled for Nov. 13. Included are furniture, antiques, a diamond ring and a Steinway grand piano.

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