Another Bernie Madoff Yacht Up For Sale

by Deidre Woollard (RSS feed)
Nov 18th 2010 at 11:02PM

Just when I think we've heard the last of Bernie Madoff something else comes up for auction. Classic Driver reported that Wyles Hardy & Co., on behalf of Grant Thornton UK LLP , the joint liquidators of Madoff Securities International, is selling off another of Madoff's "Bull" yachts. This one is a 88-foot Leopard yacht. We saw Madoff's other yachts auctioned off last year but this one was seized in France last year. It was just released from a full out-of-the-water maintenance and has been deemed ready for immediate use.

The yacht has twin MTU M92 engines that have seen less than 300 hours' running time and has a cruising speed of 33 knots. It has six berths include an owner's en-suite stateroom; VIP en-suite cabin; guest en-suite cabin; and three crew berths. The yacht was built in 2007 by Cantiere Navale Arno (Pisa, Italy) to Madoff's specifications and comes with monogrammed towels and bespoke bed covers embroidered with Ruth and Bernie Madoff's initials.

A recent auction of Madoff possessions brought in over $2 million.Even though the government has sold three homes, yachts and other Madoff belongings the total proceeds of approximately $28 million haven't come close to chipping away at the billions Madoff swindled from his investors. Madoff's New York City penthouse was sold to Al Kahn, the CEO of 4Kids Entertainment. That home had been most recently listed at $8.9 million, $1 million off the original price. Madoff's Montauk house sold for $9.41 million around a year ago, more than the $8.75 million for which it was listed. Madoff's Palm Beach home was the last to sell and was most recently listed at $6.5 million. A trio of yachts brought in around $1 million last year.

Tags: bernie madoff, bull yacht, Madoff auction, madoff bull yacht, madoff ponzi scheme, madoff securities, madoff yacht, MadoffPonziScheme

Filed under: Yachts & Sailing, Crimes and Misdemeanors

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Reader Comments (Page 1 of 1)

Lune Nov 18th 2010 11:30PM

"Just when I think we've heard the last of Bernie Madoff something else comes up for auction. "
Just when I think I've heard the last of him,YOU bring him up.

phyllis Nov 24th 2010 7:20PM

low life bernie i hope he is living the real life now broke ass jail bird thats what happens to greedy dirty people he took it all now he has nothing i hope they seize every dam penny while he made other peoples lives bad don't drop the soap bernie but then you just might like it

victoria Nov 24th 2010 8:12PM

nbiagetti Dec 11th 2010 8:43PM

Bernie was all that you said about him and more ,but the people that invested with him have to realize that greed and the chance of making a rediculas amount of profit, they should have been smarter,if it sounds to good to be true then it's probley a lie, he is still scum taking advantage of his friends and family ,