Ponzi Schemer's Loot Brings In $5.8 Million

by Deidre Woollard (RSS feed)
Jun 4th 2010 at 10:01PM

Those affected by Florida Ponzi schemer Scott Rothstein's machinations got a little justice this week in the form of a total of $5.8 million brought in by an auction of Rothstein's toys at the Broward County Convention Center. The Sun-Sentinel reports there was such a big turnout for the affair that the auction started almost two hours late. Up for sale were Rothstein's luxury cars including a Bugatti, a Lamborghini Murcielago, a '67 Corvette Stingray, a Bentley, a Rolls Royce, a Mercedes McLaren, a Maserati and a pair of Ferraris.

There were a total of 17 lots and in little over an hour 11 cars, four yachts and two Wave Runners were snapped up by new owners. Rothstein's 87-foot Warren yacht, the Princess Kimberly, went for $2.51 million. The Bugatti, which Rothstein paid $1.5 million for was sold for $858,000. The $5.8 million will be added to the restitution fund for victims of Rothstein's $1.4 billion investment fraud scheme.

Tags: floyd mayweather, Ponzi Scheme, ponzi schemer, ponzi schemes, scott rothstein