Auction of Madoff effects raises $2 million
NEW YORK (Reuters) - A diamond engagement ring that belonged to the wife of Bernie Madoff fetched $550,000 at an auction on Saturday, while a pair of black velveteen slippers embroidered with the convicted swindler's initials went for $6,000, U.S. marshals said.
The auction of jewelry, furniture, antiques, clothing and other personal effects to help compensate Madoff's victims raised more than $2 million, the marshals said.
Madoff pleaded guilty last year and was sentenced to 150 years in prison. A previous auction of his personal property raised $1 million.
Proceeds from the auction will go to the Department of Justice's Asset Forfeiture Fund, which is used to compensate the victims of Madoff's multibillion-dollar Ponzi scheme.
The auction included high-end items like a Rolex watch that fetched $67,500, as well as a lot containing men's boxer shorts and socks, which brought in $1,700.
"This was another successful evening and it is a chapter closed here in New York City," said Deputy U.S. Marshal Roland Ubaldo.
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Investigators focus on foul play behind missing Malaysia plane: sources |
- Kremlin website hit by 'powerful' cyber attack
- West prepares sanctions as Russia presses on with Crimea takeover |
- UPDATE 1-Rolls-Royce concurs with Malaysia on missing jet's engine data