Jared Kushner and Ivanka Trump are reported to be moving to a super-high-security island once home to the wife of Bernie ‘Ponzi scheme’ Madoff
Florida is a great place to move to if you are a retiree or a criminal. As well as sun, sea and sand, it boasts a number of laws that may appeal to someone desperate to keep their hands on their money. These include something called a “homestead exemption”, which protects a Florida resident’s primary home (of unlimited value) from being seized by creditors.
Back in 2008, for example, Bernie Madoff’s wife suddenly switched her primary residence from New York to Florida and applied for a homestead exemption to protect her $9.4m home. Weirdly, she applied for this exemption just a few months before Madoff pleaded guilty to running a massive Ponzi scheme.
Continue reading...from The Guardian https://ift.tt/2Wm0PXq
