No word on whether it goes to other destinations besides the Big House.
Palm Beach Post: No word on the hourly rate for the black-and-grey Embraer Legacy with the letters BM on its tail.
But I’m told the Brazilian-made machine is loaded with extras, including an Italian copper espresso machine.
Madoff reportedly paid half of the Embraer’s $24 million price tag in the spring of 2008, never mind that the slumping economy was about to accelerate his fall from grace.
The other half-owner is Madoff’s friend, New York real estate developer Ed Blumenfeld. He and wife, Susan, who is Madoff’s interior designer, are Boca Raton residents.
A source in the local aviation business says Blumenfeld, who recently admitted that he, too, was a Madoff victim, has been pondering what to do with the plane.
He expects the federal government to sell Madoff’s half and reimburse some jilted investors.
But for the moment, the jet is “being chartered out to cover its costs,” according to Blumenfeld’s publicist, Gary Lewi.
“There is no comment about the Madoff portion of the aircraft or its disposition,” Lewi added.
And, here’s something interesting—look who recently flew it:
Even with Madoff under house arrest, the aviation source said, several of his family members flew the Embraer to Palm Beach International Airport during the holiday season. They spent several days at Madoff’s Palm Beach mansion.
Oh, and for you airline buffs, it looks like tail number is N18BM and here’s a shot of the plane.
Business Insider Emails & Alerts
Site highlights each day to your inbox.