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For Immediate Release

June 07, 2011

John O'Malley, 305-961-9165

Roland Ubaldo, 212-331-7200

U.S. Marshals Service two-day auction nets more than $3 million

The U.S. Marshals Service conducted a two-day auction in Miami Beach, Fla., starting Friday. The first day, which netted $2.7 million, consisted of 345 lots of fine jewelry, watches, coins and currency that were seized and forfeited from criminal cases throughout the country. On day two, the last remaining personal property belonging to Bernard and Ruth Madoff – 275 lots from the Madoff residences in New York and Palm Beach, Fla. – netted nearly $500,000.

Proceeds from the Madoff auction will be deposited into the U.S. Department of Justice Assets Forfeiture fund and used to compensate victims of Madoff’s Ponzi scheme. To date, approximately $24 million in property sales and $80 million in cash assets from the Madoffs have been recovered.  

 “The proceeds of the Madoff auction will go towards compensating the many victims of this crime of historical proportions,” said Neil DeSousa, U.S. Marshal for the Southern District of Florida. “Rest assured that the U.S. Marshals Service’s top priority in this case was restitution toward the victims.”

The U.S. Marshals Service is responsible for managing and selling seized and forfeited properties acquired by federal criminals through illegal activities. Proceeds generated from asset sales are used to compensate victims, supplement funding for law enforcement initiatives and support community programs.