Along with Palm Beach home, feds seize other Madoff assets - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Along with Palm Beach home, feds seize other Madoff assets

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By Chuck Weber bio |email

WEST PALM BEACH, FL (WFLX)-Even before the U.S. Marshal's Service rolled into Palm Beach to seize Bernard Madoff's estate there, the agents had already been active in South Florida, taking two of the disgraced financier's boats.

Marshals took the Madoff yacht.. named "Bull".. from a Ft. Lauderdale marina around noon.The 55-footer.. worth an estimated 7 million dollars.. is now at another Lauderdale boat slip awaiting liquidation.

"The boat will be turned over to the substitute custodian, National Liquidators," explained Barry Golden, a Deputy U.S. Marshal. There it will remain until the judge orders its sale.

Earlier in the day at a Palm City marina, federal agents seized the Madoff's 24-foot boat named "Little Bull." A third vessel, a 40-footer on Long Island, is also on the list to be taken.

Along with the Palm Beach home, the government is laying claim to the Madoff's Manhattan penthouse and their Long Island beachfront estate. The feds are also after the Madoff's chateau in France.

The seizure document filed in court lists four vehicles-- a 2007 BMW, a 1999 Mercedes, both registered in Florida; along with a Volkswagen SUV and a Mercedes in New York.

Also on the list: Ruth Madoff's Steinway piano, valued at $39,000, and her silverware, worth $65,000. A Ruth Madoff Wachovia Bank account with $17 million is targeted, in addition to accounts at COHMAD Securities in New York, containing at least $45 million in municipal bonds.

Recovering the estimated $800 million left in the Madoff fortune clears the way for investors to get at least some of their money back. Madoff recently pleaded guilty. His sentencing is June 4th.

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