NEW YORK — The Bernard Madoff-owned yacht “Bull” will be sold by the trustees liquidating his firm. The money made from the sale of the $7 million yacht will go into a fund to benefit his investors, according to an article in Business Week.
The 89-foot yacht was seized in 2009 in France. It is one of at least four boats that were in Madoff’s possession.
The trustees will pay a British branch of Madoff’s former company to settle its claim on the yacht, and then it will be sold for the benefit of investors.
To read the Business Week article, go to:
Madoff Trustee’s Deal on Sale of $7 Million Yacht Approved