Madoff’s belongings auctioned off in Florida

Bernard L. Madoff’s estate and belongings were auctioned off over the weekend at the Miami Beach Convention Centre in Miami Beach, Florida. The auction, held by the US Marshals Service, were items seized from Mr Madoff’s Palm Beach home after he was charged with his $65 billion Ponzi scheme.

The auction featured 345 lots of jewellery, watches, coins and currency and 275 lots from the Madoff residences in New York and Palm Beach.

Proceeds will go the US Department of Justice intended 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 US Marshals said.

Mr Madoff is serving a 150-year federal prison sentence.