Cars, bling from Fla. Ponzi scam on auction block

AP News
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Posted: Jun 09, 2011 5:37 PM
Cars, bling from Fla. Ponzi scam on auction block

Three fancy cars, a watch collection and high-end jewelry will be auctioned next month in South Florida to help repay victims of a $1.2 billion Ponzi scheme.

The July 13 auction in Fort Lauderdale is the second in the case of disbarred lawyer Scott Rothstein, who is serving a 50-year prison sentence after pleading guilty. The scam revolved around investments in fake legal settlements.

Two Corvettes and a Mercedes-Benz SL550 are to be auctioned, along with Rothstein's fancy watches and cufflinks and lavish jewelry he gave to his wife Kim. There's also autographed sports and music memorabilia and a cigar lighter collection.

The previous auction of several exotic Rothstein cars, his yacht and other boats brought in $5.8 million.

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Online:

Auction site: http://www.treasury.gov/auctions/treasury/gp/ftl_main.html