Following The Madoff Money Trail

Bernard Madoff's attorneys filed an appeal to get the convicted swindler out of jail until his June 16 sentencing date. An appeals court will hear the case next Thursday. Meantime, more financial details came to light.

Court documents show that Bernie Madoff and his wife, Ruth, are worth about $823 million.

The assets include his $7 million penthouse in Manhattan, an $11 million mansion in Palm Beach and possessions such $2.6 million in jewelry, $65,000 in silverware, a $7 million yacht named “Bull” and a $39,000 Steinway piano.

The question is how much of this goes back to Madoff’s victims when the disgraced financier is claiming some of his money is legitimate and not dirty?

Fox legal consultant Peter Johnson told John Deutzman, “It's tough to separate a criminal enterprise from a legitimate business and the burden is going to be on Bernie Madoff and his wife to show that the two are not linked.”

Johnson said, “You have to take everything he says with a grain of salt.”

Meantime, Madoff’s attorneys are trying to get him out of jail before he is officially sentenced.

Madoff’s legal team is apparently contending that their client’s financial mess is so complex that they really need to talk to him at the penthouse rather than in jail.

Johnson said, ”There's nothing so complicated about going down to the federal correctional facility and speaking to your client. They've had 3 or 4 months to speak to Mr. Madoff is what the federal government is going to say.

“I expected the court of appeals are going to say to Bernie Madoff, ‘Bernie you gotta stay in prison. I don't see any movement from the federal correctional facility from here to eternity,” he added.

After Madoff goes up the river for good it doesn't mean it's all over for his family and associates. Expect investigation after investigation and lawsuit after lawsuit from all the victims.