MadoffThe U.S. Attorney's office filed suit to reclaim more millions for victims of Bernard Madoff, this time seeking some $5.1 million in assets from Annette Bongiorno, an employee of Madoff for some 40 years, and her husband. The assets include over $2 million in cash plus titles to homes in New York and Florida, and luxury cars.

Specifically, the complaint seeks $1.1 million currently or formerly held at Citibank, Morgan Stanley Smith Barney and HSBC; $1.3 million paid toward a luxury condo; a Manhasset, NY home that Bongiorno bought for approximately $1.4 million; a Boca Raton, Fl home that she paid approximately $862,000 for; a 2005 Bentley Continental Bongiorno paid some $180,000 for; and two 2007 Mercedes that she got for approximately $90,000 and $66,000.

In the forfeiture complaint, the U.S. Attorney establishes that Bongiorno knew about the fraud, noting that she communicated with clients about their "investments," answering their questions, fabricating related documents and distributing the documents to them.

The complaint also details how she acquired so much money from the fraud that taking these assets is appropriate. Specifically, Bongiorno's salary plus bonus for 11 years totaled approximately $3 million. Additionally, a Madoff account she opened and put less than a million into "earned" so much that she withdrew approximately $14.5 million from it -- a return of over 1,500%. Her "real" return was much higher, as the account statement indicated it held over $50 million.

This forfeiture action enlarges and follows one filed on June 22 against Bongiorno. Presumably if prosecutors can identify more assets to target, they will, and we will see another complaint in due course. With some $17 million allegedly acquired from the fraud and "only" $5.1 million targeted so far, Bongiorno's got a lot more to give back.

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mark

If they where able to find 5.1M of her [other peoples] money sitting around in plain site,common sense tells us that she has much,much more hidden in off-shore accounts. lets just hope the feds don't cut her a deal that allows her to get off basically scott free to laugh in everyones faces, and retire in the utmost luxury to her own private island. paid for with other peoples money.. She should be sitting in a jail cell for life right next to her partner in crime mr.madoff,but the prosecters here are not the sharpest axes in the shed by a long shot.

August 04 2010 at 12:42 PM Report abuse +1 rate up rate down Reply
ohringen

Feds make deals all the time, lol. She will give up about 5 million of her illegal 50 million booty in exchange for information the Fed's can use. Madoff in the meantime is doing his time in Federal Prison in Butner NC still laughing his ass off. Money is truly the root of all evil.

August 04 2010 at 11:02 AM Report abuse +1 rate up rate down Reply
fastdriver

Let's see how much of this money they get back from these crooks! By now they have hidden it and transferred it into other people's names!

August 04 2010 at 9:23 AM Report abuse +5 rate up rate down Reply
kellnerc7

If she cooperated with the investigators, she was probably granted immunity.

August 04 2010 at 8:54 AM Report abuse rate up rate down Reply
Davie2743

It's obvious they are living off of funds stolen from many innocent people by Madoff and the US Justice Dept should get every dime back including his relatives fortunes.

August 04 2010 at 8:35 AM Report abuse +6 rate up rate down Reply
kitcatcn1960

she should be in jail just like madoff...and stripped of every last dime she has...just like her crooked boss

August 04 2010 at 8:27 AM Report abuse +5 rate up rate down Reply
van

I believe she was his secretary, if I'm not incorrect. I also believe she was the one that cooperated fully with the FEDS to the point of telling them everything she knew. I can not see how someone could do that knowing they themselves defrauded everyone. Strange.

August 04 2010 at 8:25 AM Report abuse -1 rate up rate down Reply
1 reply to van's comment
Davie2743

Van a thief is a thief is a thief.....end of story

August 04 2010 at 8:36 AM Report abuse +2 rate up rate down Reply