Bernie Madoff's assets seized

Federal marshals took the disgraced financier's 55-foot boat called 'Bull,' a smaller boat and one of his homes in south Florida.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

madoff_bull.03.jpg
Madoff's custom-built yacht is now in federal custody.
301 Moved Permanently

301 Moved Permanently


nginx
Do you think the job market is getting better?
  • Yes
  • No, it's getting worse
  • No, it's the same

NEW YORK (CNN) -- Federal marshals corralled Bernard Madoff's yacht "Bull," a smaller boat and one of the disgraced financier's homes in south Florida on Wednesday as the court-ordered seizure of his assets got under way.

Barry Golden, a deputy U.S. marshal, said the raids in Fort Lauderdale and Palm Beach were among several actions being carried out under orders from a federal court in New York, where Madoff pleaded guilty to charges of fraud, money laundering and perjury earlier this month.

"There are other seizures, we believe, going on in New York," Golden said.

The Bull, a 55-foot motor yacht custom-built in 1969, has been berthed at the Roscioli Yachting Center in Fort Lauderdale. It is worth about $800,000, said Robert Roscioli, the marina's owner.

"The boat is immaculate," Roscioli said. "It's an antique that has been well taken care of and maintained."

Marshals in south Florida also seized a second, smaller boat, the 24-foot "Little Bull," Golden said. And marshals took possession of Madoff's home in Palm Beach, where the taurine theme continued.

"There were bulls everywhere," he said. "Large statues of bulls, small statues of bulls, bull bookends."

Madoff is to be sentenced in June, and prosecutors have asked a judge to confiscate hundreds of millions of dollars worth of his and his family's assets. The U.S. attorney's office in New York had no immediate comment on the operation.

In addition, judges overseeing several lawsuits filed by the roughly 4,000 alleged victims of Madoff's $50 billion Ponzi scheme have ordered assets frozen.

-- CNN's Susan Candiotti, Kim Segal and Mark Norman contributed to this report. To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
Want to buy -- and live in -- a piece of history? It's not that far out of reach. These historic homes are not only for sale, they are incredible bargains. More
5 ways retailers are tracking you If you think pesky salespeople are invading your personal space, check out these 5 technologies that are tracking your movements throughout a store. More
Moto X vs. Droid Turbo: Which Droid should you buy? Motorola has made the two best Android smartphones this year. Here's how they stack up. More
Worry about the hackers you don't know 
Crime syndicates and government organizations pose a much greater cyber threat than renegade hacker groups like Anonymous. Play
GE CEO: Bringing jobs back to the U.S. 
Jeff Immelt says the U.S. is a cost competitive market for advanced manufacturing and that GE is bringing jobs back from Mexico. Play
Hamster wheel and wedgie-powered transit 
Red Bull Creation challenges hackers and engineers to invent new modes of transportation. Play

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.