Belfast Telegraph

Sunday 26 October 2014

Bernard Madoff's boats sold at auction

Fraudster Bernard Madoff's yacht Bull, two smaller boats and a Mercedes-Benz convertible were auctioned in Florida for more than one million US dollars combined.

Madoff's 1969 Rybovich, a 55-foot fishing boat, sold for 700,000 US dollars to an unknown buyer.

A 38-foot Shelter Island runabout named Sitting Bull went for 320,000 US dollars and the 24-foot Maverick centre console Little Bull fetched 21,000 US dollar. The Mercedes, a 1999 model, sold for 30,000 US dollars.

A 61-foot Viking yacht once owned by a Madoff associate sold for 950,000 US dollars.

The private auction was held by the US Marshals, who seized Madoff's assets after his massive pyramid scheme was exposed. Proceeds will benefit Madoff's wronged investors.

Madoff is serving a 150-year prison sentence.

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