Friday, 22 August 2014
Last updated 3 hours ago
Apr 2 2009 | 10:17am ET
Just days after a judge in Connecticut froze the assets of his sons, U.S. Marshals in Florida have seized some of the finer things in Bernard Madoff’s life.
The Marshals have seized the convicted fraudster’s $9.4 billion Palm Beach estate, and two of his boats. According to filings last month by federal prosecutors, the house and boats are “subject to forfeiture” due to the charges against him, although the boats are in the name of his wife, Ruth. The forfeiture list also includes properties in New York and the south of France, another boat, this one in France, a Steinway piano, silverware, jewelry, bank accounts and other investments.
“We are securing the house, changing all the locks on the house,” Barry Golden of the U.S. Marshals Service told Reuters. “We are taking a complete inventory.”
Golden also told the news agency that Madoff’s “55-foot customized motor yacht” “Bull” was “in pristine condition.” That boat was seized from a marina in Davie, Fla., while the smaller, 24-foot “Little Bull” was seized in West Palm Beach.
Aug 4 2014 | 7:42am ET
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The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note