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


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...