By Tom Comi
Let’s set the record straight right off the bat: No money raised or jail time served will ever come close to repairing the damage that Ponzi schemer Bernie Madoff inflicted on his victims.
But there is something to be said for a little justice, and that’s what we get to see on National Geographic Channel’s Seized and Sold: The Bernie Madoff Auction (airing Wednesday, April 27 at 9pm ET).
Madoff is currently in jail for his multibillion-dollar scheme that bilked many people out of their life savings and retirement plans. And although he will most likely die behind bars, that offers little consolation to those victims.
An auction, though, can be very symbolic in addition to raising some much-needed money for the victims, because it ensures that Madoff’s family is not living off the money he made and the possessions he bought. In other words, the Madoffs are forced to barely survive like those hurt by the scheme.
Some of the thousands of items we see the U.S. Marshals Service auction off from Madoff’s New York home include a diamond ring valued at $350,000, rare Persian rugs and a Steinway piano (circa 1917). The money made at auction then goes into the Asset Forfeiture Program, which aids victims of white-collar crimes.
The only thing I can imagine better than auctioning this stuff off would be forcing Bernie Madoff to watch it unfold on Nat Geo from his jail cell. Now that would be justice.
Photo: © National Geographic Channel