A Pennsylvania widow who lost over $7.3 million in Bernie Madoff's high-profile Ponzi scheme is liquidating her remaining assets including a Palm Beach condo. "Maureen Ebel, who was born in Philadelphia and has lived in Chester County since she was 6 years old, is making big and small moves to battle back," according to Philly.com. "She listed her Florida condo with a real estate agent and put her Lexus SUV up for sale on eBay, hoping to sell it before the next $690 payment is due Feb. 15. Selling the two-bedroom condo, which was appraised at $400,000 several years ago, is excruciating because her late husband was so happy there. "It was like a chunk of my husband that I still had," Ebel said. But if the condo fails to sell in the miserable Florida real estate market, she cannot imagine what will happen."Friday, January 23, 2009
From Millionaire to Maid Overnight
A Pennsylvania widow who lost over $7.3 million in Bernie Madoff's high-profile Ponzi scheme is liquidating her remaining assets including a Palm Beach condo. "Maureen Ebel, who was born in Philadelphia and has lived in Chester County since she was 6 years old, is making big and small moves to battle back," according to Philly.com. "She listed her Florida condo with a real estate agent and put her Lexus SUV up for sale on eBay, hoping to sell it before the next $690 payment is due Feb. 15. Selling the two-bedroom condo, which was appraised at $400,000 several years ago, is excruciating because her late husband was so happy there. "It was like a chunk of my husband that I still had," Ebel said. But if the condo fails to sell in the miserable Florida real estate market, she cannot imagine what will happen."
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Madoff's investors were greedy people who deliberately did not question why their returns on investment were so much higher than other people's. This woman has been living well using other people's money. Does she have any symapthy for those lower down on the Ponzi triangle or she too full of self-pity?
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