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|Charles Ponzi, Boston Financial Analyst|
The Spoils of the Madoff Scam to Be Sold at November Auction
Ruth's Emerald Ring, Bernie's Velveteen Slippers and the Desk Where He Ran His Scam on the Block
By ANNA SCHECTER and BRIAN ROSS
Photos of Madoff Property Up for Auction: Life's Luxury For BLM
Time Magazine Photo Essay of Bernie Madoff's Stolen Luxury Items. Nasdaq Chairman to Ponzi Billionaire.
Yachting With Bernie: He owned 3 boats. I like the 38 foot Lobster Speedster
The desk that authorities believe Bernard Madoff used to run his multi-billion dollar scam will be sold at auction next month along with his velveteen, monogrammed slippers and one of Ruth's diamond rings.
Ponzi scheme, according to the United States Marshal Service, which has been handling the sale of the spoils of Madoff's criminal enterprise.
"These pieces are the last of what once occupied the homes and lives of Bernard and Ruth's residences in New York city and Montauk, New York," said Joseph R. Guccione, the U.S. Marshal for the Southern District of New York.
The nine-drawer desk, made of yew wood, was located in the Manhattan penthouse apartment where authorities say Madoff most likely ran his scheme, safely away from prying eyes in his nearby office.
The Marshals Service distributed pictures today of some of the items to stir interest in the sale, set for November 13.
Among the most interesting pieces is the Steinway grand piano that graced the Madoff's well-decorated penthouse and Bernie's size 8 ½ velveteen slippers with red quilt lining, monogrammed in gold threat with the initials BLM.
More Bernard Madoff property going up for auction
NEW YORK — Bidders at a federal auction next month will have a chance to walk in the figurative footsteps of convicted Ponzi schemer Bernard Madoff.
A size 81/2 pair of black, velveteen slippers, with red quilted lining and Madoff's initials embroidered in gold thread, is scheduled to be among more than 400 pieces for sale during the latest in a series of auctions aimed at compensating the thousands of victims of Madoff's multibillion-dollar scam.
While federal officials welcome the combined sales revenue, the total represents a fraction of what Madoff stole by victimizing charities, celebrities and average investors worldwide. As of Oct. 15, the court-appointed trustee seeking Madoff's assets had allowed nearly $5.7 billion in claims filed by thousands of those victimized by the disgraced former Nasdaq chairman.
Madoff won't be around to observe the upcoming auction in person. He's serving a 150-year prison term at a medium-security federal correctional facility in Butner, N.C., after pleading guilty last year.