Facebook users have reported receiving direct messages which includes a link to a suspicious website.
In what could be the first major Facebook security story of the year, users have reported receiving a message that encourages them to visit the ‘binsservicestore.info' website after a friend's recommendation.
According to DomainQuery, the website was created on 15th September 2009, last updated on 29th December 2009 and is due to expire on the 15th September this year. The sponsoring registrar is GoDaddy.com Inc and the administrator and registrant data provide contact details in India.
Rik Ferguson, senior security advisor at Trend Micro, said that binsservicesstore.info lands on a 'work from home scam page' that uses geo-ip to look like a local (to you) online newspaper.
Andy Thomas, commercial director of Garlik, warned at the end of December about a scam on Facebook where a user is offered a free £25 iTunes voucher. The scam, which came via an invitation and involves sending the group administrator a message with the user's name and email address, had around 464,000 respond.
Thomas said: “Some simple maths and logic says this is going to cost someone over £12 million. That is Hooveresque in promotional scale and we all remember what happened to them, the truth is this is a well timed scam that plays on people's trust of the iTunes brand and love of a bargain (it's called social engineering).
“The only gift members will get is a nasty surprise in an email (probably the one containing your iTunes ‘gift') or a permanent place on a phishing attack list sold, much like direct marketeers buy email or physical addresses. If you or a friend joined this list make sure they know what to expect over the next few days, weeks, months.”
Sunday, February 7, 2010
Saturday, January 30, 2010
Kaspersky Lab issues 2010 cyberthreat forecast
Kaspersky Lab, a leading developer of secure content management solutions, outlines the threats we can expect to see in 2010 as a result of cybercriminal activity.
In 2008, the company’s analysts forecast a rise in the number of global epidemics. Unfortunately, that forecast proved to be accurate: 2009 was dominated by sophisticated malicious programs with rootkit functionality, the Kido worm (also known as Conficker), web attacks and botnets, SMS fraud and attacks on social networks. So what can we expect from 2010?
According to the company’s experts, in the coming year we will see a shift in the types of attacks on users: from attacks via websites and applications towards attacks originating from file sharing networks. Already in 2009 a series of mass malware epidemics have been “supported” by malicious files that are spread via torrent portals. This method has been used to spread notorious threats such as TDSS and Virut as well as the first backdoor for Mac OS X. In 2010, we expect to see a significant increase in these types of incidents on P2P networks. Cybercriminals will continue to compete for traffic. The modern cybercriminal world is making more and more of an effort to legalize itself and there are lots of ways to earn money online using the huge amount of traffic that can be generated by botnets. Today, it is mostly black-market services that compete to make use of botnet traffic. In the future, however, we foresee the emergence of more "grey" schemes in the botnet services market. So-called "partner programs" enable botnet owners to make a profit from activities such as sending spam, performing DoS attacks or distributing malware without committing an explicit crime.
The decline in gaming Trojans witnessed in 2009 is likely to be repeated for fake antivirus programs in 2010. The latter first made an appearance in 2007 and 2009 saw a peak in their activity and involvement in a number of major epidemics. The Kido worm, for example, installed a rogue antivirus program on infected computers. The fake antivirus market has now been saturated and the profits for cybercriminals have fallen. Moreover, this kind of activity is closely monitored by both IT security companies and law enforcement agencies. This makes it increasingly difficult to create and distribute fake antivirus programs.“Malware will become much more sophisticated in 2010 and many antivirus programs will be slow to treat infected computers due to advanced file infection methods and rootkit technologies,” says Alex Gostev, Director of Kaspersky Lab’s Global Research & Analysis Team. “IT security companies will respond by developing even more complex protection tools. However, the malicious programs capable of bypassing these measures will remain more or less immune to antivirus programs for some time.”
When it comes to attacks on web services, Google Wave looks like it will be making all the headlines in 2010. Attacks on this new Google service will no doubt follow the usual pattern: first, the sending of spam, followed by phishing attacks, then the exploiting of vulnerabilities and the spreading of malware. The planned launch of the network-based Chrome OS is a noteworthy event, but the experts at Kaspersky Lab do not anticipate much interest in this platform from cybercriminals.
However, 2010 promises to be a difficult time for iPhone and Android. The first malicious programs for these mobile platforms appeared in 2009, which is a sure sign that they have aroused the interest of cybercriminals. The only iPhone users at risk are those with compromised devices, but the same is not true for Android users who are all vulnerable to attack. The increasing popularity of mobile phones running the Android OS in China combined with a lack of effective checks to ensure third-party software applications are secure will lead to a number of high profile malware outbreaks.
The detection of new vulnerabilities will remain the major cause of epidemics. These vulnerabilities will be detected in both software developed by third parties (such as Adobe, Apple, etc.) and in Windows 7, the new operating system that has just entered the market. If no serious vulnerabilities are detected, 2010 may well prove to be one of the quietest years for some time.
About Kaspersky Lab
Kaspersky Lab delivers the world’s most immediate protection against IT security threats, including viruses, spyware, crimeware, hackers, phishing, and spam. Kaspersky Lab products provide superior detection rates and the industry’s fastest outbreak response time for home users, SMBs, large enterprises and the mobile computing environment. Kaspersky technology is also used worldwide inside the products and services of the industry’s leading IT security solution providers. Learn more at www.kaspersky.com. For the latest on antivirus, anti-spyware, anti-spam and other IT security issues and trends, visit
In 2008, the company’s analysts forecast a rise in the number of global epidemics. Unfortunately, that forecast proved to be accurate: 2009 was dominated by sophisticated malicious programs with rootkit functionality, the Kido worm (also known as Conficker), web attacks and botnets, SMS fraud and attacks on social networks. So what can we expect from 2010?
According to the company’s experts, in the coming year we will see a shift in the types of attacks on users: from attacks via websites and applications towards attacks originating from file sharing networks. Already in 2009 a series of mass malware epidemics have been “supported” by malicious files that are spread via torrent portals. This method has been used to spread notorious threats such as TDSS and Virut as well as the first backdoor for Mac OS X. In 2010, we expect to see a significant increase in these types of incidents on P2P networks. Cybercriminals will continue to compete for traffic. The modern cybercriminal world is making more and more of an effort to legalize itself and there are lots of ways to earn money online using the huge amount of traffic that can be generated by botnets. Today, it is mostly black-market services that compete to make use of botnet traffic. In the future, however, we foresee the emergence of more "grey" schemes in the botnet services market. So-called "partner programs" enable botnet owners to make a profit from activities such as sending spam, performing DoS attacks or distributing malware without committing an explicit crime.
The decline in gaming Trojans witnessed in 2009 is likely to be repeated for fake antivirus programs in 2010. The latter first made an appearance in 2007 and 2009 saw a peak in their activity and involvement in a number of major epidemics. The Kido worm, for example, installed a rogue antivirus program on infected computers. The fake antivirus market has now been saturated and the profits for cybercriminals have fallen. Moreover, this kind of activity is closely monitored by both IT security companies and law enforcement agencies. This makes it increasingly difficult to create and distribute fake antivirus programs.“Malware will become much more sophisticated in 2010 and many antivirus programs will be slow to treat infected computers due to advanced file infection methods and rootkit technologies,” says Alex Gostev, Director of Kaspersky Lab’s Global Research & Analysis Team. “IT security companies will respond by developing even more complex protection tools. However, the malicious programs capable of bypassing these measures will remain more or less immune to antivirus programs for some time.”
When it comes to attacks on web services, Google Wave looks like it will be making all the headlines in 2010. Attacks on this new Google service will no doubt follow the usual pattern: first, the sending of spam, followed by phishing attacks, then the exploiting of vulnerabilities and the spreading of malware. The planned launch of the network-based Chrome OS is a noteworthy event, but the experts at Kaspersky Lab do not anticipate much interest in this platform from cybercriminals.
However, 2010 promises to be a difficult time for iPhone and Android. The first malicious programs for these mobile platforms appeared in 2009, which is a sure sign that they have aroused the interest of cybercriminals. The only iPhone users at risk are those with compromised devices, but the same is not true for Android users who are all vulnerable to attack. The increasing popularity of mobile phones running the Android OS in China combined with a lack of effective checks to ensure third-party software applications are secure will lead to a number of high profile malware outbreaks.
The detection of new vulnerabilities will remain the major cause of epidemics. These vulnerabilities will be detected in both software developed by third parties (such as Adobe, Apple, etc.) and in Windows 7, the new operating system that has just entered the market. If no serious vulnerabilities are detected, 2010 may well prove to be one of the quietest years for some time.
About Kaspersky Lab
Kaspersky Lab delivers the world’s most immediate protection against IT security threats, including viruses, spyware, crimeware, hackers, phishing, and spam. Kaspersky Lab products provide superior detection rates and the industry’s fastest outbreak response time for home users, SMBs, large enterprises and the mobile computing environment. Kaspersky technology is also used worldwide inside the products and services of the industry’s leading IT security solution providers. Learn more at www.kaspersky.com. For the latest on antivirus, anti-spyware, anti-spam and other IT security issues and trends, visit
Sunday, January 17, 2010
FBI Ends Copperfield Investigation, Copperfield Accuser Investigated According to Angelo Calfo of Yarmuth, Wilsdon, Calfo PLLC
The following is a statement by David Copperfield's attorney, Angelo Calfo of Yarmuth, Wilsdon, Calfo PLLC in response to the FBI's announcement and Smoking Gun and Seattle Times stories (see links):
http://www.thesmokinggun.com/archive/years/2010/0113101copperfield1.html
http://seattletimes.nwsource.com/html/localnews/2010775607_webcopperfield12m.html?prmid=related_stories_section
"David Copperfield, his family and friends are relieved that federal prosecutors finally closed their investigation without bringing a single charge, after Bellevue police recommended that the so-called victim be
charged as a criminal for making a false rape claim last month against a Seattle-area man," Calfo said.
"Her lies to Bellevue police support what David has said all along: her two-year old claims against him are patently false, absurd and contradicted by each and every witness and by documentary evidence.
"This woman's attempts to use law enforcement as a tool for extortion and financial gain should now be obvious to everyone," Calfo said.
http://www.thesmokinggun.com/archive/years/2010/0113101copperfield1.html
http://seattletimes.nwsource.com/html/localnews/2010775607_webcopperfield12m.html?prmid=related_stories_section
"David Copperfield, his family and friends are relieved that federal prosecutors finally closed their investigation without bringing a single charge, after Bellevue police recommended that the so-called victim be
charged as a criminal for making a false rape claim last month against a Seattle-area man," Calfo said.
"Her lies to Bellevue police support what David has said all along: her two-year old claims against him are patently false, absurd and contradicted by each and every witness and by documentary evidence.
"This woman's attempts to use law enforcement as a tool for extortion and financial gain should now be obvious to everyone," Calfo said.
Saturday, November 21, 2009
New Report Finds Four Forces Will Shape the Future of Mobile Banking
- Governments, industry can make choices to increase financial inclusion in the next decade
The growing use of branchless banking, including mobile phone banking, is inevitable in most countries. But it's far less certain whether large numbers of the unbanked poor will use these alternative channels for financial services beyond payments, such as savings and credit. So says "Scenarios for Branchless Banking in 2020," a new report from CGAP, a microfinance group based at the World Bank, and the U.K.'s Department for International Development (DFID).UK Minister for Trade and Development Gareth Thomas today said:
"The fact that many of the 2.7 billion people who currently don't use a bank will have access to branchless banking methods such as mobile phones and the internet by 2020 is a huge step towards financial inclusion for people in developing countries.
"The poor are kept in poverty when they are financially excluded. This means they lack safe places to save money, the opportunity to invest in their future and cannot reduce the risk of their savings being lost in natural disasters.
"As this report shows, governments and the private sector both have a huge role to play in ensuring investment is made to deliver technology-based financial services to billions of poor people."
The report sets out four scenarios on the future of branchless banking. In all four scenarios, the adoption and use of branchless banking services is forecast to be higher in 2020 than it is today. But in two of the scenarios, bursts of rapid acceleration are followed by periods of falloff or flatter growth.
"Mobile banking pioneers give us hope that millions of poor people, especially those living in rural areas, finally might be served by the banking system. That said, new business models and partnerships that provide
the right incentives to banks and banking agents are vital if we are to move beyond simple payments and transfers to being able to offer other basic banking services, especially savings, that poor people need and want," said Elizabeth Littlefield, CEO of CGAP.
The report is the product of a six month scenario-building project that engaged nearly 200 leaders from the fields of technology and finance from more than 30 countries.
Snapshot of Branchless Banking Today
- Financial inclusion is growing in most countries. This is often as a result of the expansion of conventional banking channels, such as branches and automated teller machines (ATMs);
- Bricks-and-mortar growth is inherently limited by its cost.
Branchless banking presents a cheaper option but has only modest reach To date in most countries;
- Where branchless banking is occurring, several of the following factors are usually at work: (i) industry belief in future profitability; (ii) enabling regulatory change; (iii) a dramatic fall in connectivity costs; (iv) the creation of cash-handling agents using existing networks; and,
- Current hype about the potential of branchless banking is running ahead of reality. Massive sustained success in reaching the poor requires more accurate insights on poor people's financial needs and adoption behaviour. This is only now starting to become available.
Four Forces Shaping Branchless Banking for 2020
- Demographic changes -- including a greater number of younger consumers coming into the market and greater mobility at least within countries -- will be favourable for the adoption of branchless banking;
- Activist governments will play a greater role as regulators of the financial sector, providers of social safety nets, and providers or encouragers of the rollout of low-cost bank accounts and financial infrastructure. This expanded role may be helpful for financial inclusion;
- While security concerns about cash crime will continue to drive the adoption of electronic transaction channels, the rise of electronic crime will affect consumer confidence and test the risk management of
financial providers; and,
- Internet browsing via mobile phones will reduce costs of financial transactions and enable new players to offer financial services.
CGAP and GSMA researchers have found that across Africa, Latin America and Asia, the number of people who do not have a bank account but do have a mobile phone is set to grow from 1 billion today to 1.7 billion by 2012. These "unbanked mobiled" individuals represent a compelling market opportunity for service providers.
Notes to Editors
The report will be released today at DFID in London. There will a live webcast on the CGAP Technology Blog from Washington D.C. on Dec. 1. Learn more at http://technology.cgap.org.
The CGAP Technology Program is supported by the Bill & Melinda Gates Foundation.
CGAP is an independent policy and research centre dedicated to advancing financial access for the world's poor. It is supported by over 30 development agencies and private foundations who share a common mission to alleviate poverty. Housed at the World Bank, CGAP provides market intelligence, promotes standards, develops innovative solutions and offers advisory services to governments, microfinance providers, donors, and investors. More at http://www.cgap.org.
The Department for International Development is the UK Government's department that manages Britain's aid to poor countries and works to get rid of extreme poverty. You can find out more at www.dfid.gov.uk/ .
DFID recently launched a Facilitating Access to Financial Services through Technology (FAST) project to support the introduction of "branchless banking" to mass-markets in developing countries, such as Kenya, Tanzania, Pakistan, Nigeria, India, Bangladesh and Ghana. Pilot projects will be evaluated by teams of finance and technology experts and where appropriate help and promote increases in scale or spread to different countries.
The growing use of branchless banking, including mobile phone banking, is inevitable in most countries. But it's far less certain whether large numbers of the unbanked poor will use these alternative channels for financial services beyond payments, such as savings and credit. So says "Scenarios for Branchless Banking in 2020," a new report from CGAP, a microfinance group based at the World Bank, and the U.K.'s Department for International Development (DFID).UK Minister for Trade and Development Gareth Thomas today said:
"The fact that many of the 2.7 billion people who currently don't use a bank will have access to branchless banking methods such as mobile phones and the internet by 2020 is a huge step towards financial inclusion for people in developing countries.
"The poor are kept in poverty when they are financially excluded. This means they lack safe places to save money, the opportunity to invest in their future and cannot reduce the risk of their savings being lost in natural disasters.
"As this report shows, governments and the private sector both have a huge role to play in ensuring investment is made to deliver technology-based financial services to billions of poor people."
The report sets out four scenarios on the future of branchless banking. In all four scenarios, the adoption and use of branchless banking services is forecast to be higher in 2020 than it is today. But in two of the scenarios, bursts of rapid acceleration are followed by periods of falloff or flatter growth.
"Mobile banking pioneers give us hope that millions of poor people, especially those living in rural areas, finally might be served by the banking system. That said, new business models and partnerships that provide
the right incentives to banks and banking agents are vital if we are to move beyond simple payments and transfers to being able to offer other basic banking services, especially savings, that poor people need and want," said Elizabeth Littlefield, CEO of CGAP.
The report is the product of a six month scenario-building project that engaged nearly 200 leaders from the fields of technology and finance from more than 30 countries.
Snapshot of Branchless Banking Today
- Financial inclusion is growing in most countries. This is often as a result of the expansion of conventional banking channels, such as branches and automated teller machines (ATMs);
- Bricks-and-mortar growth is inherently limited by its cost.
Branchless banking presents a cheaper option but has only modest reach To date in most countries;
- Where branchless banking is occurring, several of the following factors are usually at work: (i) industry belief in future profitability; (ii) enabling regulatory change; (iii) a dramatic fall in connectivity costs; (iv) the creation of cash-handling agents using existing networks; and,
- Current hype about the potential of branchless banking is running ahead of reality. Massive sustained success in reaching the poor requires more accurate insights on poor people's financial needs and adoption behaviour. This is only now starting to become available.
Four Forces Shaping Branchless Banking for 2020
- Demographic changes -- including a greater number of younger consumers coming into the market and greater mobility at least within countries -- will be favourable for the adoption of branchless banking;
- Activist governments will play a greater role as regulators of the financial sector, providers of social safety nets, and providers or encouragers of the rollout of low-cost bank accounts and financial infrastructure. This expanded role may be helpful for financial inclusion;
- While security concerns about cash crime will continue to drive the adoption of electronic transaction channels, the rise of electronic crime will affect consumer confidence and test the risk management of
financial providers; and,
- Internet browsing via mobile phones will reduce costs of financial transactions and enable new players to offer financial services.
CGAP and GSMA researchers have found that across Africa, Latin America and Asia, the number of people who do not have a bank account but do have a mobile phone is set to grow from 1 billion today to 1.7 billion by 2012. These "unbanked mobiled" individuals represent a compelling market opportunity for service providers.
Notes to Editors
The report will be released today at DFID in London. There will a live webcast on the CGAP Technology Blog from Washington D.C. on Dec. 1. Learn more at http://technology.cgap.org.
The CGAP Technology Program is supported by the Bill & Melinda Gates Foundation.
CGAP is an independent policy and research centre dedicated to advancing financial access for the world's poor. It is supported by over 30 development agencies and private foundations who share a common mission to alleviate poverty. Housed at the World Bank, CGAP provides market intelligence, promotes standards, develops innovative solutions and offers advisory services to governments, microfinance providers, donors, and investors. More at http://www.cgap.org.
The Department for International Development is the UK Government's department that manages Britain's aid to poor countries and works to get rid of extreme poverty. You can find out more at www.dfid.gov.uk/ .
DFID recently launched a Facilitating Access to Financial Services through Technology (FAST) project to support the introduction of "branchless banking" to mass-markets in developing countries, such as Kenya, Tanzania, Pakistan, Nigeria, India, Bangladesh and Ghana. Pilot projects will be evaluated by teams of finance and technology experts and where appropriate help and promote increases in scale or spread to different countries.
Trolley Manufacturer Among First Companies Raided for Software Piracy in Police Initiative for Creative Economy
Police officers this week intensified their efforts to reduce software piracy with a series of raids of companies accused of using unlicensed software. Police officers commented that this effort aligns with the “Creative Economy” strategy currently being promoted by the Thai government.
In the first raid of this new enforcement effort, a Chonburi-based manufacturer of airport trolleys, shopping carts, pallets and other metal products was found using unlicensed design software in the operation of their business. The software is valued at 1.2 million baht. The company’s registered assets are more than 50 million baht.
Also in Chonburi, an engineering firm that is part of a global corporation, was allegedly found with unlicensed design software valued at 290,000 baht. This company’s assets are registered at more than 200 million baht.
Members of the Economic and Cyber Crime Division (ECD) are geared up for additional raids of companies for which there is evidence of software piracy. Raids are scheduled almost daily, and should extend through the end of the year.
“Over the last month we have reviewed 1,000 investigations in which various business organizations are accused of software piracy, and now we are conducting raids against many of these companies,” said Police Colonel Sarayuth Pooltanya. “Monday was the beginning of what we see as an intense period of enforcing intellectual property rights.”
Commenting on the cases, Thai police officials say they will continue to track down violators of the Thai Copyright Act B.E. 2537 with diligence—no matter the size of the alleged infraction.
“Any business organization that uses unlicensed software is at risk of being raided for violation of the Thai Copyright Act B.E. 2537,” said Pooltanya. “The only way we can reduce Thailand’s software piracy rate is by diligently following up on complaints and taking enforcement actions against those companies who are violating the Thai Copyright Act B.E. 2537. We are confident that by aiming to reduce software piracy we can make a positive contribution to the progression of Thailand’s Creative Economy strategy.”
The ECD has made a significant impact in reducing Thailand’s software piracy rate of 76 percent. In each of the last two years, Thailand’s software piracy rate has fallen by two percent annually, a significant drop when compared to the reductions achieved in other countries during the same span of time.
Those who report the use of unlicensed software by calling 02-714-1010 or by reporting it on line are eligible to receive an award of up to 250,000 Thai Baht. The identity of the caller is protected. More information is available online at www.stop.in.th.
In the first raid of this new enforcement effort, a Chonburi-based manufacturer of airport trolleys, shopping carts, pallets and other metal products was found using unlicensed design software in the operation of their business. The software is valued at 1.2 million baht. The company’s registered assets are more than 50 million baht.
Also in Chonburi, an engineering firm that is part of a global corporation, was allegedly found with unlicensed design software valued at 290,000 baht. This company’s assets are registered at more than 200 million baht.
Members of the Economic and Cyber Crime Division (ECD) are geared up for additional raids of companies for which there is evidence of software piracy. Raids are scheduled almost daily, and should extend through the end of the year.
“Over the last month we have reviewed 1,000 investigations in which various business organizations are accused of software piracy, and now we are conducting raids against many of these companies,” said Police Colonel Sarayuth Pooltanya. “Monday was the beginning of what we see as an intense period of enforcing intellectual property rights.”
Commenting on the cases, Thai police officials say they will continue to track down violators of the Thai Copyright Act B.E. 2537 with diligence—no matter the size of the alleged infraction.
“Any business organization that uses unlicensed software is at risk of being raided for violation of the Thai Copyright Act B.E. 2537,” said Pooltanya. “The only way we can reduce Thailand’s software piracy rate is by diligently following up on complaints and taking enforcement actions against those companies who are violating the Thai Copyright Act B.E. 2537. We are confident that by aiming to reduce software piracy we can make a positive contribution to the progression of Thailand’s Creative Economy strategy.”
The ECD has made a significant impact in reducing Thailand’s software piracy rate of 76 percent. In each of the last two years, Thailand’s software piracy rate has fallen by two percent annually, a significant drop when compared to the reductions achieved in other countries during the same span of time.
Those who report the use of unlicensed software by calling 02-714-1010 or by reporting it on line are eligible to receive an award of up to 250,000 Thai Baht. The identity of the caller is protected. More information is available online at www.stop.in.th.
Thursday, November 12, 2009
MADOFF'S JEWELLERY, FINERY TO BE AUCTIONED
the trappings of Bernard Madoff's once luxurious lifestyle - jewels, furs and expensive trinkets - will be auctioned on Saturday in New York to benefit victims of Wall Street swindler.
The catalogue contains almost 200 lots reflecting the gaudy life enjoyed by Madoff and his wife Ruth as a result of his decades-long, multibillion dollar Ponzi scheme.
That includes no less than 17 Rolex watches, diamonds, fur coats, Hermes and Louis Vuitton handbags, crocodile-skin belts, golf clubs and numerous items of jewellery.
On a more personal note, there will be a blue satin Mets baseball team jacket emblazoned with "Madoff" on the back. Estimated price: $500-$720 (Bt16,650-Bt24,000).
The Madoff name appears on many other goods, ranging from beach boards to personal stationary.
Gaston and Sheehan auctioneers are handling the sale at a Sheraton hotel in New York, but the goods were seized by the US Marshals Service to raise compensation for hundreds of investors cheated by Madoff.
Pre-auction estimates by Gaston and Sheehan predict sales of about $500,000.
Properties, including a Manhattan penthouse and Palm Beach retreat, have also been seized. A Long Island beach getaway sold for $8 million.
Madoff, now serving a 150-year prison sentence for fraud, claimed just before his arrest last December to have been managing $65 million. However, much of that appears to have comprised fraudulent funds.
The court-appointed liquidator says that investors lost $21.2 billion cash.
The catalogue contains almost 200 lots reflecting the gaudy life enjoyed by Madoff and his wife Ruth as a result of his decades-long, multibillion dollar Ponzi scheme.
That includes no less than 17 Rolex watches, diamonds, fur coats, Hermes and Louis Vuitton handbags, crocodile-skin belts, golf clubs and numerous items of jewellery.
On a more personal note, there will be a blue satin Mets baseball team jacket emblazoned with "Madoff" on the back. Estimated price: $500-$720 (Bt16,650-Bt24,000).
The Madoff name appears on many other goods, ranging from beach boards to personal stationary.
Gaston and Sheehan auctioneers are handling the sale at a Sheraton hotel in New York, but the goods were seized by the US Marshals Service to raise compensation for hundreds of investors cheated by Madoff.
Pre-auction estimates by Gaston and Sheehan predict sales of about $500,000.
Properties, including a Manhattan penthouse and Palm Beach retreat, have also been seized. A Long Island beach getaway sold for $8 million.
Madoff, now serving a 150-year prison sentence for fraud, claimed just before his arrest last December to have been managing $65 million. However, much of that appears to have comprised fraudulent funds.
The court-appointed liquidator says that investors lost $21.2 billion cash.
Varsity lecture held on "ya ba" charge
A computer-engineering lecturer at a university was arrested in a sting operation and found with 40 ya ba tablets in Chiang Mai's Hang Dong district, police said yesterday. Provincial Police Region 5's Drug Suppression Unit arrested Sutthichat Pattarakul, 31, on the charge of possessing ya ba for use and sale to youngsters. The sting operation was launched after acquiring convincing information of his alleged drug dealing, police said. An undercover officer set up an appointment to buy ya ba from Suchrat yesterday at 1am. When he showed up to deliver the drugs, police arrested him.
Suchart reportedly told police that he took ya ba to relax and to stay awake late every night to repair computers as a side job, said Pol Lt-Colonel Manit Janthanupongsa of Hang Dong precinct. Suchart told police that he sold ya ba to his younger acquaintances only occasionally.
Suchart reportedly told police that he took ya ba to relax and to stay awake late every night to repair computers as a side job, said Pol Lt-Colonel Manit Janthanupongsa of Hang Dong precinct. Suchart told police that he sold ya ba to his younger acquaintances only occasionally.
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