Thieves Make Off With Madoff's Artwork

By Scott Ross
|  Thursday, Sep 17, 2009  |  Updated 8:11 AM EDT
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Bernard Madoff & His Victims

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Hope Madoff had insurance.

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Thieves have struck Ponzi schemer Bernie Madoff's art collection yet again, making off with a coyote statue from the grounds of his former Montauk home.

“It was an old, rusty thing that was in the garden with two others.” caretaker Robert Schorr, an ex-cop, told The East Hampton Press. Schorr was the one who reported the theft to police, who have determined that the crime took place sometime between Sept. 10 and 12.

In December 2008, a statue was swiped from one of Madoff's Florida homes. It was returned unharmed to a country club where he was once a member with a note attached that read, "Bernie the Swindler, Lesson: Return stolen property to rightful owners. Signed by The Educators," Reuters reported.

The three-foot Aztec replica artwork, which bore an FBI tag, was estimated to be worth about $300 U.S. Marshal Roland Ubaldo told the New York Post. The piece, like almost all of Madoff's riches were slated to be sold, with the proceeds going towards paying back the victims of his $60 billion fraud.

The Hamptons home at 216 Old Montauk Road was put up for sale by the Corcoran Group on Sept. 1 with a list price of $8.75 million.

Schorr worked at the Madoff residence for 18 years before the crook's house of cards collapsed. He's since been hired by the federal government to continue keeping an eye on the place. He says this is the first time there's been any trouble on his watch. He has no idea who took it or why.

 “People are funny, you know,” he said. “It’s probably on eBay.”

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