Fraudster Bernie Madoff will have his personal belongings auctioned this weekend, including 16 Rolex watches, a milking stool and five fur jackets.

Madoff is currently serving a 150 year prison sentence for a multi-million dollar fraud where more than 13,000 people lost money through the collapse of his firm Madoff Securities.

The money raised from the auction will go directly to the victims of the Madoff fraud.

It will take place at the Sheraton New York Hotel & Towers on Seventh Avenue in New York on Saturday.
The collection to be auctioned at Gaston & Sheehan Auctioneers includes a Rolex watch valued at £52,000 and a diamond bracelet thought to be worth £13,900.

Madoff’s personalised sky blue New York Jets jacket is also for sale, with “Madoff” emblazened on the back.

Not all of the lots available have sky high prices however. Many of Madoff’s smaller personal effects are available to buy, including belts, baseball caps, and the sign outside the Madoff house, each for under £100.