http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090316/REG/903169976Bernie Madoff may have swindled money from scores of investors, but the Ponzi purveyor clearly didn't shortchange at least one group of people: His personal security team.
Click Here!According to court documents, he shelled out $140,000 a month for New York-based Casale Associates LLC to provide him with beefed-up security at his Upper East Side penthouse.
That's $40,000 more than Mr. Madoff spent on monthly legal fees, according to an itemized breakdown of his expenses disclosed in court documents Friday.
Overall security clearly ranked as his top expense before he headed off for prison last week. In addition to the $140,000 a month paid to Casale, Mr. Madoff also coughed up an additional $14,000 a month for building security at his penthouse — making his total security costs account for more than 50% of his $293,869 in monthly New York expenses.
So he apparently spent nearly $500,000 in total on security since December, when it was revealed he bilked investors out of billions of dollars.