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Ruth Madoff Off to Florida

Declares $9.4 million Palm Beach estate as primary residence.

With her husband in jail for the next few decades, Ruth Madoff is off to bask in the Florida sun. In an attempt to save what's left of their assets, Ruth is declaring her $9.4 million Palm Beach estate as her primary residence. Feds, meanwhile, are trying to takeover the Madoff's $7 million New York apartment and the Florida home. Ruth purchased the home in 1994 for $3.8 million. "The two big drawing cards to Florida were sunshine and affordability," a consultant said. "Now it's for sunshine and the protection of your primary mansion."

Read it at Bloomberg

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