U.S. Marshals seized Bernard Madoff‘s 55-foot luxury yacht and a smaller motor boat as part of the government’s effort to recover assets to pay back his swindled investors.
The “Bull,” a vintage 1969 Rybovich yacht worth $2.2 million and the 24-foot motor boat were taken Wednesday from two South Florida marinas, said U.S. Marshals spokesman Barry Golden.
“A lot of money was put into maintaining this boat,” said Mr Golden. “This boat was extremely well kept, extremely clean. Engine compartment was spotless…”
Last month, Madoff was jailed after admitting in court to masterminding one of the biggest ever corporate frauds. The scam is reported to have deceived thousands of investors of $50 billion.
The judge ordered him sent to prison immediately while he awaits sentencing in June. He could be jailed for up to 150 years.