Bernard Madoff’s watches go under the hammer
Friday, November 12th, 2010
Watches and other possessions that once belonged to Bernard Madoff will be going up for auction in New York.
The tycoon's wristwtches, jewellery, clothing and books will be going under the hammer after the millionaire was sentenced to 150 years in prison in June this year.
Madoff was found guilty of a Ponzi scam that swindled wealthy investors out of billions of dollars.
Items set to go on sale include a collection of watches, a Steinway piano, embroidered slippers and various items of jewellery.
The auction is due to take place at the Sheraton hotel in the city this weekend and will be the second public sale of the former financier's possessions.
Recently, the US government took possession of a 43-carat diamond worth £12.5 million following a fraud investigation.
Officials have planned to put the so-called Golden Eye stone up for auction to raise money to fund the law enforcement organisations that were involved in the operation.
