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Madoff's yacht seized

Old 04-01-2009, 02:12 PM
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Default Madoff's yacht seized

Saw it on the local news. He has kept it at a marine just down the road from me. The owner of the marina said Madoff just put millions into a complete refit with engines and all. Madoff had the boat there for 12 years and used it seasonally. Nice!






http://money.cnn.com/2009/04/01/news...n=money_latest
Old 04-01-2009, 02:30 PM
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I read that it was "very well maintained".

Also read that it was an "antique" yacht -- doesn't look antique in the pix.
Old 04-01-2009, 03:22 PM
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THe fed will take it and it will rot in some yard for 5-10 years and then they will try to aution it off what a mess!!
Old 04-01-2009, 03:44 PM
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poor bernie.. D bag !
Old 04-01-2009, 03:44 PM
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They took it straight to National Liquidators in Ft Lauderdale. That tells me they want it sold quick.
Old 04-01-2009, 05:31 PM
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It was his 1969 Rybovich "Bull". A great old fishing boat.
Old 04-01-2009, 08:26 PM
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They just showed the footage on the news, and the federal marshal's weren't wearing boat shoes. Wonder what those black boots will leave for marks?
Old 04-02-2009, 08:39 AM
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Originally Posted by ScarabChris View Post
Saw it on the local news. He has kept it at a marine just down the road from me. The owner of the marina said Madoff just put millions into a complete refit with engines and all. Madoff had the boat there for 12 years and used it seasonally. Nice!






http://money.cnn.com/2009/04/01/news...n=money_latest
Was it at Turnberry???
Old 04-02-2009, 04:40 PM
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I just read a report on one of the news links and this appalled me, the report stated "Madoff and his wife AGREED to let the USGov take possesion of their 7+ million dollar home in FL to sell.

WHY IN THE HELL DO THE GET TO APROVE ANYTHING


It also stated the US Gov we start sorting through their finances and see what part of their FORTUNE they will get to keep.

WHY DO THEY NOT SEIZE EVERY DAMN THING THEY OWN;?
Old 04-02-2009, 06:47 PM
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That's just one of his boats. The pricier on is overseas. I can't remember what it is, but I heard on the news it was about 7 mil.
Old 04-03-2009, 07:32 AM
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They do not have a court order nor do they know what the spouse owns it is called property rights. The wife is not going to give up with out a court fight. The one in France is understood to be a first class ship.

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