PxPixel
Feds seize yachts from Madoff - Trade Only Today

Feds seize yachts from Madoff

Author:
Publish date:

Federal marshals paid a visit to Roscioli Yachting Center in Davie, Fla., yesterday to seize a 55-foot yacht owned by Bernie Madoff, the financier who has been jailed and awaits sentencing for swindling billions of dollars from investors.

Bull, a 1969 Rybovich, has been annually stored and professionally maintained by Roscioli Yachting Center since 1996, according to a report from Nauticom Communications. The yacht is valued at $2.2 million, according to a story in the South Florida Sun Sentinel.

Federal officials yesterday also seized Madoff's 24-foot Pathfinder from the Heritage Square Industrial Park in Palm Bay, Fla., as well as his Palm Beach mansion valued at $9.3 million. The Madoffs also have two other boats authorities want, one of them a $7 million yacht berthed in France, according to the report.

Related