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Ponzie King Madoff's possessions auctioned in New York

November 14, 2010 - New York

Jaled Ponzie King Bernard Madoff's personal possessions have been sold at an auction in New York. rom a pair of monogrammed black velveteen slippers through to a 1917 Steinway piano, a clutch of ill-gotten gains of fallen financier Bernard Madoff and his wife Ruth were auctioned off on Saturday to benefit his victims.

Madoff, 72, is currently serving a 150-year sentence in a federal prison in North Carolina for operating a so-called Ponzi fraudulent investment scheme that robbed customers of between 18 billion dollars and 65 billion dollars.adoff was sentenced to prison with no parole on June 29, 2009 for orchestrating a 65 billion dollar Ponzi scheme - the biggest fraud in US history.

Over 1,300 investors were drawn in over many years, with many facing financial ruin as a result.

A number of celebrities, including filmmaker Stephen Spielberg and actor Kevin Bacon were victims.


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