After being seized during fraud investigations in 2009, Bull – the 27m motoryacht owned by US fraudster Bernie Madoff – has been put up for sale.
Ownership had been claimed by a French creditor but records eventually proved that she was bought by Madoff Securities International in 2007.
“She’s ready to go,” says Gordon Wyles, chairman of Wyles Hardy & Co, the auctioneer handling the sale. “Bernie Madoff’s original captain is on board, looking after her.”
Bull is said to be capable of 42kt and has only 300 hours on her engines.
The asking price for the yacht – now lying in Gibraltar – has been set at €3m (US$4m) exclusive of VAT.
As with the rest of Madoff’s personal assets, funds from the sale of Bull will be used to help pay back victims of his financial fraud.
Three of Madoff’s other boats were sold off last year by the US authorities.