Criminal Justice News

Thursday, June 18, 2015

U.S. Marshals Holding Auction of Peter and Shana Madoff Assets



420 lots of watches, jewelry, furniture, works of art, and other personal assets up for sale

New York – The U.S. Marshals are selling 420 lots of assets formerly belonging to Peter and Shana Madoff, announced U.S. Marshal Michael Greco of the Southern District of New York. The online auction at www.txauction.com starts today and ends July 7.

Starting bids range from $5 for sculptures of two dogs and two horses (lot 2032) to $327,250 for a nine-carat diamond ring (lot 1077).

U.S. District Judge Laura Taylor Swain ordered the sale of the assets in a court order May 14.The assets have been divided and will be sold in two auctions. The second auction is tentatively planned for mid-July.

The proceeds from the sale of these Madoff assets will be held by the Marshals pending a final order of forfeiture in federal court.

Peter Madoff was sentenced to 10 years in prison in December 2012 for fraud charges while acting as the former chief compliance officer and senior managing director of Bernard L. Madoff Investment Securities LLC. He is serving his sentence at Estill Federal Correctional Institution in South Carolina with a scheduled release date in October 2021.
Platinum Asscher-cut diamond ring 9.03 carats, lot 1077                 Diamond earrings and necklace, lot 1078

Platinum Asscher-cut diamond ring 9.03 carats, lot 1077
                Diamond earrings and necklace, lot 1078

Men’s Rolex watch, lot 1050       Paul Martin oil painting “Reluctant Playmate,” lot 1137   Mahogany secretary bookcase, lot 1213
Men’s Rolex watch, lot 1050       Paul Martin oil painting “Reluctant Playmate,” lot 1137   Mahogany secretary bookcase, lot 1213

For information on the auction, including item descriptions, pictures and terms and conditions, go to www.txauction.com.

For information on the criminal case:

    http://go.usa.gov/3E9Dj
    https://www.fbi.gov/news/podcasts/gotcha/peter-madoff-part-1.mp3/view
    https://www.fbi.gov/news/podcasts/gotcha/peter-madoff-part-2.mp3/view

The Department of Justice Asset Forfeiture Program is a key component of the federal government’s law enforcement efforts to combat major criminal activity by disrupting and dismantling illegal enterprises, depriving criminals of the proceeds of illegal activity, deterring crime and restoring property to victims. The U.S. Marshals Service plays a critical role by efficiently managing and selling assets seized and forfeited by DOJ. Proceeds generated from asset sales are used to operate the Asset Forfeiture Program, compensate victims and support various law enforcement and community initiatives.

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