Assets of Bernie Madoff's brother for sale in online auction

Before you go, we thought you'd like these...
Before you go close icon
Madoff Ponzi Scheme: Has the Money Been Recovered?

NEW YORK (AP) — The federal government is selling the personal assets of Bernard Madoff's brother, Peter, in an online auction.

Peter Madoff is serving a 10-year sentence at a South Carolina prison on fraud charges for his role in his brother's billion-dollar Ponzi scheme. He served as compliance officer at the firm.

The U.S. Marshals Service says the sale of the 420-lot auction began Thursday and ends July 7.

The assets include jewelry, watches, furniture and works of art.

The sale was ordered by a federal judge in May. A judge will decide how the money will be distributed.

The government previously sold Peter Madoff's Long Island mansion for $3.5 million.

Bernie Madoff was sentenced to 150 years in prison.

Read Full Story
Credit Card Compare

Credit Card Compare

Whether you're looking for great travel rewards or low annual fees, find the card that's right for you.

Compare Now

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

If You Find One Of These In Your Yard, Don't Touch It - And Try Not To Panic If You Find One Of These In Your Yard, Don't Touch It - And Try Not To Panic
Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts
Cops Catch Up To A Suspicious Speeding Vehicle - And Make An Appalling Discovery Inside Cops Catch Up To A Suspicious Speeding Vehicle - And Make An Appalling Discovery Inside