Boy, does the U.S. Marshall have a deal for you! Why buy a ‘cash-for-clunkers’ car when you can get luxury transportation for land and sea?

The catch: the 61-foot yacht, Audi coupe, and Mercedes sedans were originally bought by Frank DiPascali, the former CFO at Bernie Madoff’s investment firm, and the right-hand man of convicted Ponzi-schemer Bernard Madoff.  According to a new lawsuit filed on Monday (see below), the roughly $2 million worth of toys were illegally paid for using Madoff client funds.

Just what did DiPascali buy with the Madoff firm clients’ money?

  • A 2003 Viking 61-foot yacht
  • Original cost: $1,891,769.00
  • Estimated used price: $1,100,000
  • A 2009 Audi S5 Coupe
  • Original cost: $50,000
  • Estimated used price: <$40,000
  • A 2007 Mercedes E350 4-Matic Sedan
  • Original cost: $62,872
  • Estimated used price: <$30,000
  • A 2006 Mercedes ML500 SUV
  • Original cost: $45,676
  • Estimated used price: <$30,000

DiPascali and his wife cannot enjoy these luxury toys anymore, and Madoff investor’s can only hope to recover a portion of what they were once worth.

  • Original cost: $1,891,769.00

  • Estimated used price: $1,100,000

  • Original cost: $50,000

  • Estimated used price: <$40,000

  • Original cost: $62,872

  • Estimated used price: <$30,000

  • Original cost: $45,676

  • Estimated used price: <$30,000

  • Madoff CFO DiPascali Pleads Guilty to Criminal Charges, FindLaw (Aug. 11, 2009)
  • Bernard Madoff’s Guilty Plea Allocution, FindLaw (Mar. 12, 2009)

You Don’t Have To Solve This on Your Own – Get a Lawyer’s Help

Civil Rights

Block on Trump’s Asylum Ban Upheld by Supreme Court

Criminal

Judges Can Release Secret Grand Jury Records

Politicians Can’t Block Voters on Facebook, Court Rules