Madoff's Personal Belongings Up For Auction

NEW YORK -- As Bernard Madoff sits in a North Carolina prison serving a 150-year sentence, remnants of the fallen financier's once lavish lifestyle are going on the auction block at a Manhattan hotel.

Around 200 items -- ranging from a half-used sticky pad to expensive jewelry -- are being auctioned off Saturday in the grand ballroom at the Sheraton New York Hotel & Towers.

The items were taken from Madoff's homes on Manhattan's Upper East Side, in the Hamptons and in Palm Beach, Fla., which federal authorities seized after he was convicted of defrauding investors.

They include dishes, pens and stationary, boogie boards emblazoned with the 71-year-old's last name, and a Rolex nicknamed the "Prisoner Watch."

Proceeds from the auction will be divided among Madoff's victims.

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  • by Ted Location: Grimesland on Nov 14, 2009 at 06:00 PM
    lol @ Kimo
  • by Laura Location: NC on Nov 14, 2009 at 03:06 PM
    Chris - The article says, "Proceeds from the auction will be divided among Madoff's victims."
  • by Kimo Location: Belhaven on Nov 14, 2009 at 01:33 PM
    Stationary what???
  • by Chris on Nov 14, 2009 at 11:39 AM
    So what happens to the people who invested in him? I'm not sure how all this works, but if the state takes his property and sells and keeps the funds, instead of giving it back to his investors, thats pretty shady but I wouldn't be surprised.

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