|Bernard Madoff’s victims got back a portion of their losses as the trustee unwinding his fraud began sending out a total of $1.2 billion in recovered funds, with checks averaging $1.1 million each.|
It came three years after the anniversary of Madoff’s Dec. 11, 2008 arrest, when thousands of retirees, charities, investment funds and other clients discovered they’d lost over $17.5 billion in principal to his decades-long Ponzi scheme. The distribution boosted victim's recoveries to $9.16 billion, or about 57 percent of the total losses, trustee Irving Picard said in a statement.
|In late 2010, two years after he was first arrested for an $ 18 billion Ponzi scheme, Madoff possessions hit the auction market.|
Thousands of belongings from his New York City penthouse, including his used shoes, went on the auction block.
|An anonymous bidder paid $550,000 for a 10.5-carat diamond engagement ring that belonged to Madoff's wife, Ruth.|
Ruth Madoff's French diamond earrings fetched the next highest price. They went for $135,000.
|The man who became a symbol of greed and deceit on Wall Street had a lavish collection of watches. One of his vintage steel Rolex "Moon Phase" watches sold for $67,500. The watch was part of Madoff's 40-plus watch collection that also included 16 other Rolexes.|
U.S. marshals seized everything in the Madoffs' Manhattan apartment and Long Island beach house: worn socks, new monogrammed boxer shorts, even the used Italian velveteen slippers bearing the initials "BLM" in gold embroidery.
|Madoff's mini fleet of boats were auction stars. A restored 55-foot Rybovich yacht named Bull fetched $700,000. Madoff's former 38-foot Shelter Island sport runabout, named Sitting Bull, went for $320,000. And the 24-foot Maverick center console he dubbed Little Bull got a winning bid of $21,000.|
A black 1999 Mercedes-Benz CLK 320 convertible that belonged to Madoff's wife, Ruth, went for $30,000.
|Madoff's 4,000-square-foot duplex Manhattan penthouse sold for $8m, and a 8,750-square-foot home in Palm Beach $7.4m. Madoff's Montauk beach home sold for $9.4m|
|Morrell Wine Auctions auctioned off 262 bottles of wine and liquor that had been seized by federal authorities from Madoff's mansion in Palm Beach.|
The collection sold for over $41,500.
|While Bernard Madoff serves a 150-year prison term in South Carolina, five former employees were found guilty of conspiracy in March 2014. A jury ruled they had for years helped conceal his massive Ponzi scheme.|
The verdicts were the first jury convictions since Madoff’s scam was exposed, and came after a trial that lasted nearly six months. One defendant, Annette Bongiorno, worked for Madoff for 40 years as his secretary and at one point had as much as $50m in her accounts. Bongiorno, 65, had multi-million dollar homes in Long Island and Florida and drives a Mercedes worth $100,000.