After a lengthy legal dispute, the boat belonging to Ponzi scheme operator Bernard Madoff is for sale
Far be it for us to gloat over how the mighty have fallen, but we couldn’t help but raise a little smile when this story popped up in our inbox – Bernard Madoff’s aptly name motoryacht, Bull, is finally up for sale.
The bespoke 27m Leopard motoryacht was built by Italian firm Cantiere Navale Arno to Madoff’s personal specification. Madoff Securities International Limited (MSIL) purchased the boat in 2007 for a cool €5m.
The boat is currently in Gibraltar, and according to the joint liquidators of MSIL, Stephen Akers, Andrew Hosking and Mark Byers, who are now in charge of the boat, it has undergone full maintenance and is ready for immediate use.
Stephen Akers said, “Having resolved a period of legal dispute over its ownership, I am pleased to be finally able to offer for sale yacht Bull. I am sure that its unique history and high specification will ensure that there is significant interest in the yacht”.
The legal dispute arose when both the liquidators and a creditor in France took hold of the yacht in the Commercial Court of Antibes in April 2009.
Madoff is currently serving 150 years in prison for masterminding what has been described as the biggest Ponzi scheme in history, defrauding investors of a staggering $65 billion.
Wyles Hardy & Co is handling the sale of the boat, if you would like to find out more call 01442 832234.