Helping victims of Madoff Ponzi scheme at auction

Crime does not pay, but their auctions certainly do. The U.S. government held a successful auction of seized items from Bernard and Ruth Madoff's residences, raising more than $1 million, double the $500,000 low estimate, for victims of one of the largest Ponzi schemes in history. The 200 lots included watches, artwork, jewelry, and memorabilia sold over a four hour period last Saturday.

Buyers bid high to partake in history and help the victims.  Kimmeron Lisle, a jeweler, sought to purchase Ruth Madoff's size 8 Chanel boots saying "I'm going to walk one day in her shoes and then judge her."

Bernard "Bernie" Madoff pled guilty to defrauding thousands of people out of approximately $65 billion dollars in a massive Ponzi scheme and was sentenced to 150 years in prison. The government has more than 2,000 additional items left to auction. Gaston & Sheehan Auctioneers handled the auction.