Cars, bling from Fla. Ponzi scam on auction block

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Associated Press

Posted on June 9, 2011 at 7:01 PM

Updated Thursday, Jun 9 at 7:02 PM

FORT LAUDERDALE, Fla. (AP) — 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

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