Federal authorities seized disgraced financier Bernard Madoff's Palm Beach mansion, his vintage yacht and a smaller boat Wednesday, part of an effort to recoup assets to pay back investors he swindled. Barry Golden, a spokesman for the U.S. Marshals Service, said about five marshals arrived at the 8,753-square-foot, five-bedroom mansion late Wednesday afternoon, hours after the boats were seized.
Authorities planned to enter and secure the mansion, change the locks and conduct an inventory of the property, which Palm Beach County records show had a taxable value of $9.3 million last year.
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