Ponzi Scheme Convict's Possessions Up For Auction

DENVER (CBS4)- Millions of dollars worth of cars, artwork and other items will be up for auction on Saturday. They once belonged to a man convicted of running a ponzi scheme.

Shawn Merriman is serving 12 years in prison. He has been ordered to pay his victims $20 million in restitution.

Perspective bidders could tour a warehouse filled with items like boats, tools, motorcycles, motorhomes and cars on Friday, one day before those items go on the auction block. All those items were owned by Merriman.

"We love old cars, so I think that's mainly what we came down here to look at," said potential bidder Carol Peterson.

While some people are shopping for great bargains, not everyone sees this as an opportunity.

"I want to see him serve his time. You know, when he pays his debt to society, and then maybe there will be closure then," said ponzi scheme victim Tim Gilmartin.

U.S. Marshals will give the proceeds from the sale back to people who lost money in the scheme, but that may only make a small dent in what investors lost.

"I'm not one of the big investors but, I mean, good friends of mine are heavy, heavy investors with him and they are devastated," said Gilmartin.

The auction is Saturday, Jan. 29 at 11 a.m. at Dickensheets Auctions, 1501 W. Wesley Ave. in Denver.