Madoff buys Summit home

Ponzi Investments Inc., an American company listed among Madoff's many seized assets, has been named as the buyer of a "prominent" home on Westmount's posh Summit Circle, Examiner real estate columnist Andy Dodge reported this week. He added that although the exact address cannot be made public until the sale is officially registered at City Hall, the home is well-known as one of Westmount's most expensive properties.

The sale, said to be in excess of $8 million, was made through a local Westmount real estate agent whose name cannot be published because she no longer advertises in The Examiner.

Although American legal experts agree that Madoff faces more than 100 years in prison, sources at Ponzi Investments Inc. have confirmed that the 70-year-old New Yorker plans on moving to Westmount when he gets out. "Bernie wants to spend his twilight years drinking Molson and cheering for the Habs," said Ponzi CEO Martha Phelps Claypool, who added that Madoff put aside an entire day's worth of embezzling to buy a private loge in the Bell Centre, "for his retirement."

But on Summit Circle, many people are vehemently opposed to having Madoff in their neighbourhood. “I don’t want to see him around here,” said landscaper Jacques Caron. “I hope he burns in hell for what he did,” said plumbing contractor Napoleon Larose. “Even if he gets out, he should not move here.” “If I meet him, I will hit him until he bleeds,” vowed Lani Ordonez, a nanny on nearby Lexington Avenue.

Real estate analysts and economist agree that Madoff is not the only American looking for a safe financial haven in Canada. "There was a time when Vietnam draft dodgers saw our country as a popular refuge; now we're seeing more and more American businessmen bringing their money north of the border," said economist Denis Therrien. "We say, hey, come on in — and bring your money! In these tough economic times, who are we to refuse them?"