US: Bernie Madoff's wine collection to be auctioned off to raise funds for Ponzi scheme victims

May 16, 2011

While the disgraced American financier Bernard Madoff languishes in Butner Medium jail, North Carolina, authorities have announced they will be auctioning off his extensive wine and spirits collection. The 73-year-old, who is serving a 150-year sentence for his Ponzi scheme, will not see a penny from the sales of his Château Lafite-Rothschilds or Château Pétruses. Madoff's alcohol collection is set to be sold on an auction online tomorrow - and the money gained from the sales will be re-distributed to the many victims who were conned in the $18bn scam. Read more:

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