BERNARD MADOFF YACHT AUCTION
Saturday November 21st, 2009
PAYBACK TIME FOR MADOFF
Three yachts formerly owned by notorious financier, Bernard Madoff ,and one owned by his chief financial officer, Frank DiPascali, went under the hammer at a private auction organized by the US Marshals Service in Ft Lauderdale and raised a healthy $2m. All the proceeds have gone to a fund set up to help victims of Madoff’s ponzi sceme.
There were 70 bidders registered for the event with many of them putting down $100,000 deposits. Madoff's 1969 Rybovich went for $700,000. His 38ft Shelter Island runabout, 'Sitting Bull' raised $320,000 and 'Little Bull' his 24ft Maverick center console fetched $21,000. DiPascali's 61ft Viking went for $950,000. Other personal items were also auctioned, including cars and watches raizing over $1m.
Further auctions of Madoff’s ill gotten gains are already planned.
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