Bernard Madoff's ‘Bull’ back on the market again

A luxury yacht bought by financial fraudster Bernard Madoff for US$8 million in 2007 and named 'Bull' is back on the market after earlier attempts to sell the vessel were thwarted by a French investment firm.

Bull will be sold through tender and is expected to fetch about US$2.5 million, according to the liquidators who are trying to recover funds to pay back the victims of Madoff's ponzi scheme.

Madoff, 75, was arrested in December 2008, pleaded guilty three months later, and is serving a 150-year sentence in a North Carolina federal prison. He masterminded a US$65bn fraud that wrecked the lives of thousands of investors.

His victims included charities, banks, Hollywood stars and moguls, and savvy financial players. His fraud collapsed in 2008 when he could no longer lure new money to fund withdrawals.

The yacht, seized by US Marshals in April 2009, was the largest in a fleet of several yachts owned by the former Wall Street investment adviser and chairman of the Nasdaq exchange. The price tag is a significant discount from the boat's original price, apparently due to its connection with Madoff.

The galley of the yacht is said to be in pristine condition because the fastidious Madoff never allowed guests to bring food on board to avoid mess.