NY Post: Indicted former Bear Stearns hedge-fund manager Ralph Cioffi has used his homes in New Jersey and Naples, Fla. to secure a $4 million bond, but did not use his toniest address in Southampton to gain his freedom pending trial.
Public records show that Cioffi bought the 2.5-acre Hampton estate for $10.7 million in the best part of town in February 2007 – as his funds were already starting to collapse.
The 6,500-square foot shingle-style home has six bedrooms, seven baths, a pool and tennis court – plus a separate guesthouse.
Photo from Bloomberg News via nytimes.com
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.