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07 December 2023

Madoff victims selling memorabilia on eBay

Bernard L Madoff walks down Lexington Ave to his apartment December 17, 2008 in New York City (AFP)

Did you get fleeced by Bernard Madoff? Or did you buy that Madoff Securities fleece jacket on eBay?

Madoff, who was arrested last month after allegedly telling investigators he lost as much as $50 billion of investors’ money in a giant Ponzi scheme, promoted his firm by putting its name on everything from T-shirts to beach towels, tote bags and umbrellas.

Dozens of the keepsakes are now being sold on eBay.

Some of the sellers say they’re former clients and employees. Others, like John Mitchell, hawked a cigar humidor bearing Madoff’s name.

“I find these things and then I resell them,” Mitchell, of Fox Grove, Illinois, said 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.

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.