Weekend (Theft) at Bernie's

Isn't this a luxurious backyard? It's located in Palm Beach, Florida behind a $9.5 million home that belongs to one Bernard L. Madoff. You may have heard his name lately, in conjunction with a $50 billion Ponzi scheme, a house arrest, an associate's suicide, widespread financial ruin and so on. Anyway.

It's hard to tell from this little photo, but the chaise lounges to the left are next to the pool which, until last weekend, was also adorned with a $10K copper sculpture of two lifeguards perched on an elevated seat. A tasteful, whimsical, expensive note of Art gracing a billionaire's swimming pool, l-o-v-e-ly verdigris patina, etc., etc. Until the sculpture went missing, as was reported by the housekeeper over the past weekend.

Now, my first thought was, "Oh, is the price of copper trending upwards this month?" because a lot of open-air sculptures (and public fixtures and old phone wires and manhole covers--ingenuity/desperation are also, sadly, trending upwards) are being spirited away these days by thieves who sell them for scrap metal. But, no! As things turned out, some pesticide workers found the statue on December 31, unharmed, in the shrubbery near a local bike trail. And dig this, it had a note attached:

"Bernie the Swindler, Lesson: Return stolen property to rightful owners. Signed by - The Educators."

The police are investigating. I hope they will take their sweet time about it, because I'm personally delighted to see one of these Wall Street greed freaks suffer even a small karmic dope slap. Mr. Madoff is getting his sculpture back in time for the Securities and Exchange Commission to include it on a list of his personal assets. Mr. Madoff's investors are going to be less fortunate about getting their assets back.

Related Reading:

• The Madoff Scandal - from About.com Financial Careers
• Madoff Ponzi Scheme Fooled Big Investors - from About.com US Economy
• What is a Ponzi Scheme? - from About.com Economics

Image credit:The back of a home that records show is owned by Bernard L. Madoff is seen December 15, 2008 in Palm Beach, Florida. Madoff is suspected of leading a $50 billion Ponzi scheme. (Photo by Joe Raedle/Getty Images)