Auction of Bernie Madoff goods set for November
Ever wonder what it is like to be in Bernard Madoff's shoes?
Well, now you have the chance to find out - without the 150-year prison sentence, that is.
Federal marshals next month will be sponsoring an auction of everything the convicted Wall Street scam artist, as well as his wife, Ruth, accumulated over the years. The items range from Madoff's collection of Belgian-made loafers, his wristwatches, Ruth's Chanel and Armani blazers, and even the family Steinway grand piano.
"The listing is everything in the house[s]," said Roland Ubaldo, a spokesman for the U.S. Marshals Service in New York.
More than 450 individual groups of items will be available, including fireplace andirons, cashmere sweaters and alligator belts taken from the Madoffs' penthouse in Manhattan and beach house in Montauk, said Ubaldo.
The auction is Nov. 13, at the Sheraton New York Hotel and Towers, 811 Seventh Ave. in Manhattan, beginning at 10 a.m. It will be preceded by a public viewing of the items on Nov. 12, also starting at 10 a.m., in Building 25 of the Brooklyn Navy Yard. An earlier auction netted about $1 million.
The Madoffs forfeited virtually everything they owned to the government after Bernard Madoff pleaded guilty in March 2009 to running Wall Street's biggest-ever Ponzi scheme. Investigators said Madoff defrauded thousands of investors of at least $21 billion.
Madoff was sentenced to 150 years in federal prison in June 2009. As part of his sentence, which he is serving at a North Carolina facility, the Madoffs' turned over $80 million in accounts to federal prosecutors, as well as three homes, three boats and three cars. Ruth Madoff was allowed to keep $2.5 million in assets but was told to vacate the penthouse, taking only the clothes on her back and a purse. She is reportedly living with relatives in Florida.
Federal officials seized a total of more than $100 million in Madoff assets to pay back investors.
Information about the Madoff auction can be found at txauction.com