Ponzi Schemer's Luxury Cars Go Up For Auction

by Deidre Woollard (RSS feed)
Feb 28th 2011 at 7:01PM

As our sibling site Autoblog mentioned earlier, the luxury cars of Ponzi schemer Byron Keith Brown are headed to auction in Maryland. Brown was convicted and given 15 years in prison for a scam that cost people a total of $17 million. The Baltimore Sun reported that the cars are being sold on March 1 as part of an auction run for the U.S. Treasury Department. Proceeds will be added to the U.S. Treasury's Asset Forfeiture Fund and net proceeds derived from the assets will be available as restitution for the victims of Brown's crimes.

Brown ran a company called "In God We Trust Financial Services" and several others under different names in Virginia and Maryland pushing an investment scheme that gave the appearance that people were sending him up to $1 million. Brown spent his money of a variety of flashy cars including a 2007 Lamborghini Murcielago, a 2005 Rolls Royce Phantom, a 2004 Mercedes Benz Maybach 57, a 2006 Aston Martin and many more. A total of 17 cars are being sold, the complete list is at Mahheim Auctions. The auction takes place at the Manheim Baltimore-Washington location, 7120 Dorsey Run Road, Elkridge, MD, 21075.

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Tags: byron keith brown, ponzi scheme, ponzi schemer, treasury auction