WorldCom Exec's Estate Sells At A Deep Discount

by Deidre Woollard (RSS feed)
Aug 18th 2005 at 5:19PM

We've seen it before with Dennis Kozlowski and high-flying execs who hit trouble, suddenly the assets don't make so much on the resale. Former WorldCom executive Scott Sullivan's beautiful, not-quite-completed estate in the elite Le Lac community in Boca Raton, Florida has sold for $9.7 million, less than half of its original asking price of $22.5 million. Sullivan was sentenced to a five-year prison term last week and sold the unfinished home to Milwaukee developer Daniel Katz. Katz is already a Boca resident and locals are said to be thrilled that the long-term construction on this house may finally be completed.

Filed under: Estates

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