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Billionaire swindler Madoff's belongings go to auction

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Uploaded by on Nov 10, 2010

Some 400 objects formerly in the possession of billion-dollar swindler Bernie Madoff will go up for auction at the weekend as officials try to raise funds to reimburse some of the victims of his Ponzi schemes. Items are said to include a 10.5-carat diamond engagement ring, and a pair of monogrammed black-velvet slippers. It is the second auction of his personal effects, and part of an effort to reimburse some of the approximately 18 billion dollars lost by those who invested in Madoff's schemes. AFPTV previews the items ahead of their sale on Saturday.Duration: 00:41

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  • Will those proceeds go to the bankers too?

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