Marshals Seize Madoff Mansion, Boats

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.

RELATED:     Special Coverage: The Bernard Madoff Scandal


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...