'Bernie Madoff auction' auctions watch for $250
First published: 31-12-2009
Bernard Madoff, the man who temporarily made off with billions of pounds worth of pilfered funds, has been the subject of yet another auction held this week in California.In a report for the Orange County Register, it was revealed that a Swatch watch belonging to the individual was given away to the highest bidder at the surprisingly low price of $250 (£150).
The buyer, a retiree from the local area by the name of Steven Jones, revealed that he would be passing it on to his nephew as a jokey present.
However, it was not the only watch getting the attention of buyers, as a number of more high-end jewellery and fine art offerings were also available to buyers.
As a result, a Rolex watch studded with diamonds also went for the price of $4,200 (£2,800) to one lucky bidder.
Madoff, who was jailed earlier this year for 150 years - the maximum sentence allowed - stole around $18 billion (£12 billion) from investors, though the amount missing from accounts was closer to treble that.
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