On perhaps his last trip to Palm Beach, for a long time, Bernie Madoff did something that he often did—shopped. He did a lot of this activity at Trillion, a high-end clothing store on Palm Beach’s boulevard of bucks, Worth Avenue.
Trillion is the kind of place that promotes its 20 years of selling Kiton products. Kiton, for the uninitiated, is not for the weak of wallet. For example, Kiton’s cashmere-vicuna men’s sports jackets sells for $7,400 at the store. But Trillion also sells things like cotton socks, albeit the $50 version.
Anyway, Bernie loved it, as did other folks like Ronald Perelman and Bill Koch.
WSJ’s Wealth Blog: David Neff, the store’s president, says Madoff was “one of our best customers, he was here a lot.” His last shopping trip, however, was made a little more complicated by his arrest on Dec. 11.
Mr. Neff says Mr. Madoff came into the store about two weeks before his arrest. (In fact, Mr. Madoff and Carl Shapiro, Mr. Madoff’s phone-a-friend who invested $250 million in Madoff’s scheme days before the arrest, were at the store within a few days of each other).
According to a person familiar with the store, Mr. Madoff did some serious shopping during his Trillion visit and planned to pick up the goods the next time he was in town. Mr. Neff acknowledges that Mr. Madoff may have bought “thousands of dollars” of items at the store, “but that’s not uncommon so I wouldn’t call that big. Plus that would be easy to spend here, since it could be just one or two items”).
Days later, Mr. Madoff was, shall we say, detained in New York. So a Madoff family member called Trillion and said he wouldn’t be coming to Palm Beach. The family member asked the store to ship them to New York, which it did.
Come on, he needs to look spiffy for court!
Business Insider Emails & Alerts
Site highlights each day to your inbox.