Gibraltar ‘Bull’ sale in bid to recoup Madoff monies
It might seem like a drop in a 50 billion USD ocean, but the liquidators of infamous Madoff Securities International are selling the fraudster’s superyacht in a bid to recoup a fraction of the victims’ lost money. Currently lying in Gibraltar waters, ‘Bull’ (you’ve got to hand it to the man) is expected to receive offers over three million euros.
Sentenced to 150 years imprisonment in 2009 for the biggest fraud in business history, Bernie Madoff was at the helm of a 20-year-established Ponzi Scheme that managed to vaporize 50 billion USD-worth of investors’ money. Thanks to a bullish attitude and unwavering ability to spout the same, Madoff lived like a king with head-turning Bull just one of his indulgent toys. Now for sale by private treaty, the 27 metre Leopard had a launch value of six million euros in 2007 yet could prove to be a bargain at half the price for today’s buyer.
Brian Stevendale, Sales & Marketing Director for Gibraltar’s Ocean Village marina, a pitstop for an endless parade of megayachts, had this to say, “As a marina, Ocean Village is well-used to providing safe berthing for the world’s finest yachts. This is largely due to Gibraltar’s strategic geographic location and incredibly advantageous tax position that, amongst other benefits, slashes around 40% off refueling costs in comparison to neighbouring Spain – a real boon when considering transatlantic fuel tank capacities. The fact that Gibraltar is now hosting Bull comes as little surprise, although we’d rather not all our visitors had such a colourful history.”
Exquisitely crafted to Madoff’s unique tastes, Bull has been lightly used to the tune of just 320 hours and is ready for use thanks to full out-of-water maintenance in August of last year. The Ponzi principal was fastidious to the last, a clean freak who repeatedly ordered new carpets and prohibited food onboard at all times. As a result she is in immaculate condition and the galley equipment remains as unused as the day it was fitted.
With a cruising speed of 33 knots and an impressive maximum of 42 knots courtesy of twin MTU M92 engines coupled to Arneson surface drives, Bull has six cabins – owners’ stateroom, VIP and guest (all en-suite) alongside three crew cabins – and has been under the stewardship of the same Captain since order date.
To arrange an appointment to view Bull in Gibraltar or to enquire about premier berthing facilities at the award-winning Ocean Village marina with its casino, fine dining and luxurious residential towers, contact Brian Stevendale directly on brian.stevendale@oceanvillage.gi, or visit oceanvillage.gi.
