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PARIS — Another of Bernard Madoff’s trophy assets has been seized.
French authorities have chained up his $7 million yacht “Bull” at a port in the exclusive Mediterranean enclave of Cap d’Antibes, between Cannes and Nice.
Bailiffs threw a heavy chain around the boat’s propeller Friday after a court granted the request by French investment firm Meeschaert, one of the many former investors in one of Madoff’s funds that is suing to get some money back.
The yacht was seized “just in time,” said lawyer Philippe Rames of Gide Loyrette Nouel, adding that the crew was preparing to move it. The Associated Press
