Victims upset by 'Madoff auctions'

ORLANDO, Fla., Nov. 1 (UPI) -- Victims of jailed U.S. financier Bernard Madoff say they're upset at organizers of "Madoff auctions" who claim to be selling victims' items.

One such auction organizer, Gavin Abadi, has held recent "Due to Losses Caused by Bernie Madoff" auctions in Orlando, Naples, West Palm Beach, Fla., which have attracted the ire of the Network for Investor Action & Protection, the New York non-profit group formed by Madoff victims, the Orlando Sentinel reported Sunday.

"The Madoff scheme has been such a devastating life event for so many people," Ilene Kent, the group's director told the newspaper, adding, "This kind of thing just continues the victimization," and saying she doubts whether the items have any connections to Madoff victims.

Abadi, of the Atlanta area, told the Sentinel his claim is true, insisting that wealthy clients have hired him to help offset their losses from the Madoff case, in which the financier was convicted of running a $50 billion Ponzi scheme.

"The more valuable works of art and jewelry, such as 10-karat diamond earrings, they're the kinds of items we get from the Madoff victims," he reportedly said. "But the majority of what we have available are what we call 'general order.'"