The Real Deal Miami

Miami Madoff victims speak

July 06, 2009 10:40AM

One had to sell a house, one doesn’t leave his and a third wonders how she’ll live in the wake of losing her investments to convicted fraudster Bernie Madoff. A week after the investment felon behind the world’s largest Ponzi scheme received a 150-year prison sentence, his clients still bob helplessly in his wake. One, Guido Parente, cousin to Madoff’s long-time secretary, planned to retire off his Madoff investments. His building activities, where he’d make a house and pay off the mortgages on others, were diverted to put cash with Madoff, and he’s now stuck with a $2.9 million house.