Madoff Victims Puts Arts Collection Up For Auction

07.27.09 | FL News Team

(Southampton, NY) -- A Philadelphia family that fell victim to Wall Street swindler Bernie Madoff put hundreds of paintings on the auction block over the weekend. The auction held in Southampton, New York included works from Pablo Picasso, Salvador Dali and Rembrandt.

In all, the family put more than 120 items up for bids. Museum quality paintings, sketches, and sculptures were part of the collection, which brought in more than a quarter-million-dollars total. The family did not want to be identified.

Madoff was sentenced to 150-years in federal prison for masterminding a 65-billion-dollar Ponzi scheme.