PARIS – Another of Bernard Madoff's trophy assets has been seized.
Authorities chained up Madoff's $7 million yacht "Bull" Friday at a marina in an exclusive enclave in the south of France.
A warning posted by the bailiffs on the boat reads: "Important: Do not turn on the motors, considering that the propellers are chained."
The yacht was seized after a court granted the request by a French investment firm. The firm (Meeschaert) is one of the many former investors in one of Madoff's funds that is now suing to get some of its clients' money back.
Two other Madoff yachts were seized last week, along with a Florida mansion he owns.