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“Enforcement Action” is written by Bruce Carton, a former senior counsel in the SEC's Division of Enforcement. A “blawg pioneer” (according to The Wall Street Journal), Carton was the creator of Securities Litigation Watch, a blog that he wrote for more than three years while he was vice president of ISS' Securities Class Action Services. He is now editor of Securities Docket, an online publication that tracks securities litigation and enforcement developments on a global basis. Carton welcomes questions, comments and statements from readers on enforcement and litigation issues; he can be reached via email at BCarton@complianceweek.com.

 

November 10, 2009

Every Madoff Scrap Being Auctioned Off Nov. 14

bullshirt230So did you know that sometimes when you are convicted of a massive securities fraud, and you owe tens of billions of dollars to thousands of victims, that the U.S. Marshals Service will come to your (former) home(s), seize EVERY item you own, and sell it at an auction?

That is what is going down in the Bernard Madoff case on November 14 at 10 am. At that time, Gaston & Sheehan Auctioneers will be selling off every last watch, golf ball, sand wedge, cuff link, earring, duck decoy, wooden milk stool, baseball jacket, and yes, even baseball mitts that the U.S. Marshals seized from Madoff following his arrest and conviction.

You can get your bids in online, too, but be on your toes because Compliance Week editor Matt Kelly has already vowed to come home with the “White paper stationary w/ ‘Bernard Madoff’ on obverse top; envelopes included.” And yours truly may or may not be wearing a “Polo Golf style shirt with 2 signal flags over ‘BULL’ on front upper left” come November 15.

The entire Madoff auction catalogue can be seen here (see items 196-299 and 301-386).

Posted by: bcarton @ 12:15 pm

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