Authorities seize Madoff's yacht from Florida marina

Published: Wednesday, April 1, 2009 at 1:08 p.m.
Last Modified: Wednesday, April 1, 2009 at 1:08 p.m.

MIAMI Jailed financier Bernard Madoff's (MAY'-doff) 55-foot luxury yacht and a smaller vessel have been seized by U.S Marshals in Florida.

The boats were taken Wednesday from two different marinas.

Marshals' spokesman Barry Golden says the yacht named "Bull" is a 1969 Rybovich and was "extremely well kept." A a 24-foot motor boat belonging to Madoff also was seized.

Madoff is in jail pending sentencing for pleading guilty to charges he swindled billions from investors in what could be the biggest scam in Wall Street history. He faces a maximum sentence of 150 years behind bars.

Court documents show Madoff and his wife had $823 million in assets at the end of last year including the boats.

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