This is a discussion on Madoff sale next month within the Local & Foreign Issues forum, part of the Community Lounge category; NEW YORK - HUNDREDS of items once belonging to disgraced financier Bernie Madoff will be auctioned off next month, running ...
NEW YORK - HUNDREDS of items once belonging to disgraced financier Bernie Madoff will be auctioned off next month, running the gamut from a massive emerald-cut diamond to his black bedroom slippers, US officials said on Thursday.
The US Marshals Service said that all told, about 400 pieces of Madoff property would be sold during the November 13 live auction in New York.
The property was seized to help pay restitution to the victims of Madoff's multi-billion dollar swindle, in which he for years pilfered money from rich investors while pretending to manage their funds.
His record-breaking Ponzi scheme earned him a prison sentence of 125 years last year, but not before he was able to swindle tens of billions of dollars from investors during two decades.
The US government office said the auction, which simultaneously will be held online, would sell off items not only belonging to Madoff, but to his wife Ruth as well, including her 10.54 carat diamond ring in a handmade platinum mounting.
The sale also will include antiques, a Steinway grand piano and Madoff's own black velveteen slippers, embroidered with his BLM initials in gold.
Madoff sale next month