The world of auto finance and Bernard Madoff are colliding again, this time as the trustee in charge of liquidating Madoff’s assets is looking to return six vehicles leased by the disgraced asset manager.
The cars, including a Lexus, Cadillac, Range Rover, and three Mercedes-Benz’s, were leased at various dealerships. Terms of the leases were not disclosed.
Under house arrest, Madoff has little use for the vehicles, according to the trustee, Irving Picard.
While under house arrest, it is doubtful that Madoff has had a chance to catch up with J. Ezra Merkin, a former chairman of GMAC, who ran hedge funds that had invested heavily with Madoff.
