U.S. to Auction Madoff Belongings in Two-Day Auction
The auction will begin with 345 lots of jewelry, watches, coins and currency and conclude with 275 lots from the Madoff residences in New York and Palm Beach, according to a statement today. Proceeds will go the U.S. Department of Justice and be used to compensate the conman’s investors. Recoveries from the Madoffs’ possessions to date are $23 million in property sales and $80 million in cash assets, the U.S. Marshals said.
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