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Feds Want Madoff`s Cayman Islands Assets Too

CaribWorldNews, NEW YORK, NY, Mon. Mar. 23, 2009: Self-confessed swindler, Bernie Madoff`s assets included a yacht in the Cayman Islands and now U.S. prosecutors want to forfeit that among other possessions.

The Cayman Islands asset the federal government wants is named in court papers as `one Leopard 23M Sport Yacht known as Bull, Hull No. 27, approximately 23 meters long, 5.35 meters wide and 1.5 meters draft.`

It was registered in the name of Yacht Bull Corp., George Town, Grand Cayman, Cayman Islands and docked in Mooring No. 25. 

Prosecutors are also going after `any and all interest held in the name of Yacht Bull Corp., George Town, Grand Cayman, Cayman Islands, in Mooring Number 25, Port Gallice.`

They also want all shares of stock held in the name of Bernard L. Madoff and/or Ruth Madoff in 133 East 64th Street Corporation, homes in Manhattan, Palm Beach, Florida, Cap d’Antibes, France and on New York’s Long Island, valued at a total of $22 million, $17 million in a bank account and at least $45 million in COHMAD Securities Corp, a brokerage part-owned by Bernard Madoff.

The feds also are going after four cars, $65,000 in silverware and a Steinway piano worth $39,000 as Madoff remains jailed awaiting his sentence after confessing to charges he ran a giant ponzi scheme, possibly the biggest in history.

Madoff`s lawyers claim $69 million in property and accounts belonged to Ruth Madoff and was unrelated to the fraud. A list of assets filed with the appeal put the net worth of Madoff and his wife between $823 million and $826 million.