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Victims Benefit From Madoff's Wine Collection

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Victims Benefit From Madoff's Wine Collection

Business

Victims Benefit From Madoff's Wine Collection

Victims Benefit From Madoff's Wine Collection

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Convicted swindler Bernard Madoff's wine collection was expected to fetch up to $20,000. But something about the bottles once owned by Madoff appealed to bidders. The collection went for more than $40,000. Proceeds will go to victims of Madoff's Ponzi scheme.

STEVE INSKEEP, host:

There was higher-than-expected demand for a wine collection auctioned off yesterday in New York. And our last word in business is a taste of disgrace.

Bernard Madoff, who is jailed for swindling billions, had a wine collection that was expected to fetch a mere 15 to $20,000. But something about the bottles once owned by Madoff even those tiny airline bottles of gin and vodka, they were part of the collection something about them appealed to bidders. The collection went for more than $40,000. Proceeds will go to victims of Madoff's Ponzi schemes.

That's the business news on MORNING EDITION, from NPR News. I'm Steve Inskeep.

RENEE MONTAGNE, host:

And I'm Renee Montagne.

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