Bernie Madoff’s items including boxers to be auctioned off

November 12th, 2010 - 7:51 pm ICT by Aishwarya Bhatt  

bernie New York, Nov 12 (THAINDIAN NEWS) United States authorities are auctioning off the belongings of convicted Ponzi schemer, Bernie Madoff. Authorities will use the proceeds from the auction to pay victims of the scheme.

The items will be offered for sale on Saturday and they include all the things that are in the Manhattan and Long Island homes of Madoff. Among the things that will be offered to the public during the auction are personal stuffs of Madoff including his boxers and other clothes.

It is expected that the $300,000 diamond engagement ring and other valuables will help raise he value of the auction. The auctioned items also include the desk that authorities believe Madoff used during the scheme. The desk which is made of yew wood has nine drawers.

Madoff made sure that he lived an extravagant lifestyle. That means authorities will have more items to sell off. Authorities have a Steinway grand piano to dispose off. Joseph R. Guccione, U.S. Marshal for the Southern District of New York said that, “These pieces are the last of what once occupied the homes and lives of Bernard and Ruth’s residences in New York City and Montauk, New York”.

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