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Bernie Madoff's Brother Puts L.I. Mansion On The Market

NEW YORK (CBSNewYork/AP) -- Bernard Madoff's brother has put his Long Island mansion on the market for $6.5 million.

Peter Madoff is selling off real estate as he faces a lawsuit by the trustee reclaiming funds for investors in Bernard Madoff's Ponzi scheme.

Peter Madoff and his wife bought the 14-room home in Old Westbury for about $2.5 million in 1990, according to Newsday.

The paper cites public records and real estate reports.

The house is on 4 acres of property. The taxes are nearly $75,000.

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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