New York – The federal government is selling the personal assets of Bernard Madoff’s brother, Peter, in an online auction.
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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.
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Online: www.txauction.com