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Report: Madoff's boat can be had ‘for a bargain’

Convicted Ponzi scheme fraudster Bernie Madoff’s superyacht Bull is back on the market for $5.5 million, less than the $7.9 million it commanded when it was launched in 2007.

Madoff’s boat has been kicking around the international yacht market since 2010, but was put up for sale once more last week, after a series of potential Russian buyers failed to come up with the cash.

The 88-foot Leopard yacht has twin MTU M92 engines that have less than 300 hours on them and a cruising speed of 33 knots.

So yacht broker Gordon Wyles of Wyles Hardy & Co., acting for the liquidators of Madoff Securities International, has been asked to seek “credible offers” for the vessel that Madoff commissioned from an Italian shipyard to include an en-suite stateroom and monogrammed bed-covers.

The British press seems to be having the most fun with the story. Click here for a report by The Telegraph and click here for The Standard’s take on the situation.