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Marshals Auction Jewelry, Watches From Peter and Shana Madoff

Jun 19, 2015 9:52 AM   By Jeff Miller
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RAPAPORT... U.S. Marshals opened an  online auction of men's and women's jewelry, numerous watches and other valuables, including art and furniture, that once belonged to Peter Madoff and his daughter Shana -- the brother and niece of convicted Ponzi schemer Bernie Madoff.  madoff

The current sale of 420 lots closes on July 7 at www.txauction.com and a second auction is being planned for the middle of July.  Starting bids are as low as $5 for household items and as high as $327,250 for a 9.03-carat, G, VS, Asscher-cut platinum diamond ring (pictured).

Another ring, a 5.47-carat, J, VS1 emerald-cut diamond opens bidding at $45,050.

U.S. District Judge Laura Taylor Swain ordered the sale of the assets in a court order May 14. The proceeds from the Madoff asset sales will be held by the Marshals pending a final order of forfeiture in federal court.

Peter 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.

 

Tags: auction, diamonds, illegal, Jeff Miller, Jewelry, Madoff, scam
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