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December 17th, 2008
09:30 AM ET

Madoff enjoyed $50 pedicures, 9.8 handicap, boat called ‘Bull’

[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2008/images/12/17/art.bernie.madoff.jpg]

By Mark Clothier and Oshrat Carmiel
Bloomberg

Two weeks ago, Bernard Madoff stopped by the Everglades Barber Shop off Worth Avenue in Palm Beach, Florida, for the usual: a $65 haircut, a $40 shave, a $50 pedicure and a $22 manicure.

“For me, he was a gentleman,” said Senio Figliozzi, 72, the owner of the three-seat barber shop who has been cutting Madoff’s hair for the past 17 winters. “What he did outside, it was news to me.”

What Madoff did outside - running an alleged Ponzi scheme that may have bilked investors around the world out of $50 billion - has been the talk of Palm Beach this week. The arrested money manager owns a $21 million home on the Intracoastal Waterway about a mile from the Palm Beach Country Club. He was a regular at the club, where his 9.8 handicap this year has been as steady as the returns he promised investors.

It was those returns that lured Marilyn Lane, 72, and her husband, William, 81, into Madoff’s orbit. The Lanes, who own a Chevrolet and Saturn dealership in Manassas, Virginia, and a place in Palm Beach, invested more than $1 million with Madoff about six months ago.

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Filed under: 360° Radar • Crime & Punishment • Finance
soundoff (4 Responses)
  1. Rolundus

    I can assure you this jerk has long since established a safe haven for his stolen goods. Off shore accts in different names etc. There is no way this should have taken place.

    December 17, 2008 at 4:29 pm |
  2. Joanne, Solvay, NY

    Of course he did enjoy the high life! Isn't that what greed is all about? We pay baseball players hundreds of millions in contracts, why should business not be the same? Well, one situation is an organization gone wild, whereas the business debacle is clearly the scheme of one or two executive types with an agenda.

    December 17, 2008 at 12:41 pm |
  3. Annie Kate

    Can the court take Madoff's assets and liquidate them to get some of the money back that he stole from his investors? His wife should be left a place to live but the boat and most of the property ought to be sold (if it can be in this market) to help compensate the victims of this fraud. It seems no one was immune from Madoff's larceny – even his sons. The scale of his crime just leaves you in shock.

    December 17, 2008 at 9:54 am |
  4. Cindy

    It seems that Madoff was living it up on the money that he stole! I don't think he'll be liking were he is going next though! The haircuts and manicures are free but not that great! LOL

    Cindy...Ga.

    December 17, 2008 at 9:34 am |