Fraudster Scott Rothstein’s ‘toys’ auctioned off

Ponzi-scheme operator Scott Rothstein is definitely not the most popular man on the block. He has cheated god knows how many men from their hard earned money. And now those victims want their revenge. And they got a piece of it this week at Ft. Lauderdale, Fla. The occasion saw many of his precious toys being auctioned off. These not so cheap toys included the man’s luxury vehicles and yachts.

Many of the attendees were the victims who said they felt betrayed and cheated by Rothstein. I am not surprised that they do so. This is being seen by them as a way of recovering even a small piece of what they lost in the disbarred attorney’s $1.2 billion scam. Rothstein’s firm, which is now being liquidated for bankruptcy failed to keep it’s promise of providing a local anti-crime organisation with a $100,000 reward as incentive. In total, the auction managed to generate $5.8 billion.

The notable auctioned pieces were the 87-foot yacht “Princess Kimberly”, which was sold for $2.51 million, a $858,000 worth Bugatti Veyron, and a 2010 Lamborgine that was bought for $457,500. The former owner is now in jail and will hear a final verdict on June9 for charges such as wire fraud and racketeering, for which he pleaded guilty.

Via: Blogs.WSJ

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