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Art from Madoff's Montauk Home to be Auctioned

2009-09-02 15:19:30 未知

While Bernard Madoff defrauded numerous art world denizens through his Ponzi scheme, a tour through his Montauk home, which was listed for sale at $8.75 million over the weekend, reveals not a trace of contemporary art. The Associated Press reports that the interior decoration at the house that he shared with his wife “leaned toward nautical-meets-folk-art.”

Pieces remaining in the house include a sculpture of wolves, a large goat made of wood, and wooden ducks. The assortment of items also includes rugs and pottery produced by Native Americans. All of the work inside the house will be sold at auction to help compensate investors who lost money with Madoff, according to Deputy U.S. Marshal Roland Ubaldo, who describes the home as “simple, stylish, and understated.”

Victims of Madoff’s Ponzi scheme include New York gallery owner Barbara Gladstone, Miami collector Norman Braman, and art adviser Ben Heller, who helped broker the sale of the art collection belonging to investment adviser J. Ezra Merkin, who is currently being sued by New York State Attorney General Andrew Cuomo for failing to disclose that he gave $2.4 billion of investors’ money to Madoff to invest.

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