Ponzi Schemer Bernie Madoff and his wife’s Belongings Auctioned

U.S. Marshalls Service on November 13th held an auction at the Sheraton New York Hotel & Towers, where Ruth Madoff’s 10.5 carat diamond ring brought in the big bucks. This was actually an auction of the belongings of Ponzi schemer Bernie Maddof. Mrs. Maddof’s diamond ring was sold for 550,000, while her diamond earrings went for over 100,000. Apart from these two jewels, other items belonging to Ruth Maddof were also sold, and they brought in a total of $2million.

Bernie Maddof’s Rolex “Moon Phase” also went under the hammer for $67,500. A Steinway & Sons grand piano also brought in $42,000. The couple’s king-sized bed went for $2,250. Who bought the bed? Tally Wiener, the lawyer who helped liquidate Fairfield Sentry, a fund, which fed money into Madoff’s accounts before going under. He said he will offer the bed to Mrs. Madoff. Bernie’s velvet slippers with his initials stitched in gold thread were sold for an amazing $6,000.

Some man even bought his unused boxer shots for $1,700! The money generated from this auction will go to United States Department of Justice Asset Forfeiture Fund in order to compensate the victims of this multi-billion dollar fraud. Most of his properties have also been sold, but haven’t been able to get back the entire sum that was swindled by him.

Via: ArtInfo

Written By
More from Mayuri

First International Luxury Club in China Established in Tianjin

The authorities in China are watching the growth in the luxury market...
Read More

Leave a Reply

Your email address will not be published. Required fields are marked *