Madoff’s ‘luxury’ items auctioned

By Incorrect Author 19 November 2009

For the guy who made more than $20 billion disappear, Bernard Madoff was not exactly a profligate spender. The auction of his luxury goods in Florida in front of 70 bidders managed to fetch only a measly $2 million. Most of the money was spent on his four boats and Ruth Madoff’s Mercedes-Benz. The homes in New York and Palm Beach are still on the market and it’s not clear when they will turn in cash to be sent back to his victims. One thing is obvious: Madoff was not Donald Trump or Oracle’s Larry Ellison and wasn’t buying gigantic yachts or Gulf Stream jets. If only the FBI could find where the rest of the money is? Read more: BBC News


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