Madoff Auction: Personal Items of Fraudster up for Grabs

By Kamika Dunlap on November 10, 2009 | Last updated on March 21, 2019

Going once... Going twice... Sold to the highest bidder!

The U.S. Marshals Service is selling jewelry and other items from the disgraced financier Bernard Madoff.

The auction Saturday in New York City is a part of the continuing effort to raise money for the victims of Madoff's Ponzi-scheme.

Madoff, 71, was sentenced in June to 150 years in prison for  -- the maximum penalty the judge could give him for orchestrating a massive scheme that spanned decades. Billions were bilked from investors to fuel his Madoff's life of luxury.

"We're trying to get as much as we can for these items so we can raise money for all the victims," Roland Ubaldo, a Marshals Service told USA Today. "We're very hopeful, because there's already been all kinds of interest."

Three Madoff yachts including one that belonged to his top financial aide, Frank DiPascali, are to be sold in a separate auction next week in Florida.

DiPascali pleaded guilty to enormous fraud charges that carry a possible prison term of 125 years.

Other Madoff items on the auction block include a blue satin and orange-trimmed New York Mets jacket valued at $500 to $720. There's also a set of golf clubs, a diamond link bracelet, and three 40-inch boogie boards.

Madoff's punishment included a forfeiture order that stripped the Madoffs of nearly all their wealth.

The order gave the U.S. Marshals Service authority to seize and sell his homes, boats, cars and other personal property.

Recently, Madoff's Montauk, N.Y., beach house sold last month for $9.41 million, comfortably above the $8.75 million asking price.

  • Madoff's off right-hand man DiPascali stays in jail (Reuters)
  • Madoff's Accountant Pleads Guilty in Scheme (New York Times)
  • Bernie Madoff's Guilty Plea (FindLaw)


    Copied to clipboard