Cash-Strapped Madoff Victims Sell Jewelry

Madoff victims are giving up their jewelry in exchange for much needed cash.  Jewelers say that when compared to the stock market drop in the 1990’s, there are now more people looking to sell their jewelry and they aren’t afraid to admit their motive.

See Financial Times, Huge volume of Madoff victims converting tiaras to ready cash, June 12, 2009.

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.