US Marshals seize Madoff's boats

Prosecutors are seizing as much as they can of Madoff's personal fortune.

By
April 2, 2009 08:05

Federal authorities seized disgraced financier Bernard Madoff's antique yacht and a smaller boat from two Florida marinas early Wednesday, part of an effort to recoup assets to pay back his swindled investors. The 17-meter yacht named Bull and a 7.3-m. motor boat were taken from marinas on Florida's east coast, said Barry Golden, a spokesman for the US Marshals Service. The yacht, a 1969 Rybovich, is worth $2.2 million. Prosecutors are seizing as much as they can of Madoff's personal fortune, and have begun demanding millions of dollars in payments from his relatives. Roughly 6,700 people have filed claims for a share of whatever is recovered. Thousands more - some who lost in excess of $1 million - are expected to come forward.


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