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Madoff victims selling memorabilia on eBay

Madoff victims selling memorabilia on eBay
AP
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First Published: Mon, Jan 05 2009. 11 11 AM IST
Updated: Mon, Jan 05 2009. 11 11 AM IST
New York: Former employees and clients of disgraced financier Bernard Madoff are hoping to recoup some of their losses by selling Madoff memorabilia on the Internet.
Madoff was arrested in December 2008 after allegedly telling investigators he had lost as much as $50 billion in client money in a giant Ponzi scheme.
He had put his investment firm’s name on hats, T-shirts, beach towels and umbrellas. Dozens of the keepsakes are now being offered on the Internet auction site eBay.
Some of the sellers say they’re former clients and employees.
Others, like reseller John Mitchell, hawked a humidor bearing Madoff’s name.
“I find these things and then I resell them,” Mitchell, of Fox Grove, Illinois, said on Sunday. He said he bought the humidor from the manufacturer before it ever made it to Madoff’s firm. Mitchell said he also sold Lehman Brothers items after the firm declared bankruptcy in September.
“People are buying that stuff,” he said. “It’s sad, but it’s still humorous.”
Other Madoff items for sale on eBay include insulated coolers, binoculars, golf caps and flashlights. Several eBay postings are prodding buyers to “own a piece of history!”
The Madoff name wasn’t fetching top dollar on the Internet. Bidding for many items didn’t rise above $50.
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First Published: Mon, Jan 05 2009. 11 11 AM IST