Madoff's yacht, 2 smaller boats on auction block - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Madoff's yacht, 2 smaller boats on auction block

Posted by Rachel Leigh - email

FORT LAUDERDALE, FL (AP) - Disgraced financier Bernard Madoff's 55-foot yacht named "Bull" and two smaller vessels are heading for the auction block in Florida.

The U.S. Marshals also will be selling Madoff's Mercedes-Benz convertible and a former associate's yacht at Tuesday's private auction in Fort Lauderdale.

Officials say 29 people have deposited $100,000 for the rights to bid on Madoff's meticulously restored 1969 Rybovitch sportfisher. More bidders are expected to register Monday.

The other Madoff boats are a 38-foot runabout named "Sitting Bull" and the 24-foot "Little Bull."

Proceeds will go to victims of Madoff's massive Ponzi scheme. Madoff is serving a 150-year sentence in federal prison.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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