After a long battle for the ownership of yacht ‘Bull’ it has finally been established that it belongs to the Ponzi schemer Bernie Maddoff. Already three boats belonged to the infamous and convicted Madoff, was sold in auctions to give the proceeds to the victims of world’s biggest fraud. Now his is to under the hammer yet!
The 27 meter motoryacht was constructed by an Italian firm according to the taste and preference of Maddoff which he purchased in 2007 for €5m. At present the boat is docked in Gibraltar. A creditor and many liquidators had stopped the movement of the yacht in France and the issue was placed at a commercial court. The yacht is maintained well and ready to be used.
The twin engines MTU M92 of the yacht provide a running time of 300 hours and 33 knots of cruising speed. The yacht ‘Bull’ has three crew berths, guest en-suite cabin, VIP en-suite cabin, and also owner’s en-suite stateroom. The bespoke yacht is unused and comes with pillows, towels of monogramme and Ruth and Bernie Madoff’s initials on the bed covers. Madoff at present is serving a jail term of 150 years for swindling billions. The sale proceeds of $28million by previous auctions do not come anywhere close to those billons.
Via: Classic Driver