Fraudster Bernard Madoff's underwear sold for $200

Items from the Palm Beach, Florida home of Bernard Madoff are shown at the Miami Beach Convention Center in Florida, 3 June 2011. The auction also included household goods, shoes, golf clubs and artwork

Related Stories

Underwear which once belonged to jailed fraudster Bernard Madoff have been sold for $200 (£120) as part of an auction of items confiscated from his mansion.

The event also saw the sale of furniture and household goods, shoes, golf clubs and art, US media report.

Organised by the US Marshals Service, the $400,000 raised will go towards victims of Madoff's $65bn fraud.

Madoff is serving a 150-year jail sentence after being convicted in 2009.

His ponzi scheme, which had been running since the early 1990s, deprived thousands of investors of their savings.

'Rolex watch'
Bernard Madoff Madoff is serving a 150-year jail term for fraud

According to the Miami Herald, 14 pairs of Madoff's boxer shorts, confiscated from his Palm Beach mansion, fetched a total of $200.

"It went about as expected," the newspaper quotes auctioneer Bob Sheehan as saying.

"When we sold the stuff from his house in New York, it brought in millions, but that included boats and cars and jewellery. This one was mostly household goods."

Another buyer paid $31,000 for Madoff's 1952 Rolex watch, while a work entitled "Nude" by photographer Edward Weston sold for $4,600.

About 6,000 online bidders took part in the auction along with 150 people who attended in person.

More on This Story

Related Stories

More US & Canada stories

RSS

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.