BND: Other People's Money! for Madoff Yacht

Right now, US Marshals in South Florida are seizing a vintage yacht owned by Ponzi Schemer Bernard Madoff.

Deputy Marshal, Barry Golden telling reporters at the marina in Ft. Lauderdale... they're executing a seizure warrant signed by a New York judge.

Madoff sits in a NYC jail awaiting sentencing in June. He faces 150 years for fraudulently obtaining an estimated $65 billion through a Ponzi scheme. Investors left penniless watched him agree to a plea deal in a NY courtroom recently.

As part of the process of trying to get any money possible for his victims... items of his are being seized. This 1969, 55- foot motoryacht will be turned over later today to the substitute custodian in the case, "National Liquidators". It's said to be worth $1.5 million to $2 million.

Deputy Marshal Golden says they are in a "continuing process" of seizures although he wouldn't say what they'll take next.