Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

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's custom-built yacht is now in federal custody.
301 Moved Permanently

301 Moved Permanently

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

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
Here's what costs more than a barrel of oil Oil prices have crashed to below $27 a gallon -- a level not seen since 2003 -- which makes a barrel of crude cheaper than lots of everyday purchases that we don't think twice about. More
Super Bowl 50 ads are studded with celebrities The 2016 Super Bowl has rolled out the red carpet for the likes of Helen Mirren, Amy Schumer, Seth Rogen, Steven Tyler and the late, great Marilyn Monroe. More
The women of marijuana These women entrepreneurs and executives are making their mark in the marijuana industry. 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