Ponzi Schemer Rothstein's Items Set For Auction Block
BOCA RATON (CBS4) – Convicted Ponzi schemer Scott Rothstein swindled hundreds of millions of dollars from investors.
Some of the high-ticket items he and his wife Kim spent those millions on are going up for auction later this month.
The items are from the Rothstein's four homes; his Harbor Beach waterfront home in Fort Lauderdale, his Manhattan Condo and side-by-side houses on Narragansett Bay in Rhode Island, that were seized by the government.
The contents of those homes include more than 200 of Rothstein's custom-made suits, expensive cigars and custom humidor, autographed sports memorabilia, signed works of art, fitness equipment, an impressive wine collection, crystal patio furniture, luxurious home furnishings and wide-screen TVs.
There are 18 flat-screen TVs, three of them 70-inches. There's even a stuffed lion.
This is also the first time Kim Rothstein's personal items will be up for auction. Some of those items include high-end designer women's shoes, handbags and clothing.
The shoes, size-5, include Manohla Blanik, Jimmy Choo and Chanel. There are Louis Vuitton handbags, Gucci accessories and evening dresses by Zola Keller. Some items still carry their price tags and evidently were never worn or used.
There are also Versace dishes, a baby grand piano, Swedish glassware by Kosta Boda, Baccarat crystal, outdoor furniture, rugs, washers and dryers, lamps, and electronics.
"I guess he needed to look the part of what he wanted to be," said auctioneer Lamar Fisher.
More than 700 separate lots will go under the gavel.
The auction is being held by order of the U.S. Bankruptcy Court.
"Our job is to take these assets and sell them for as much money as we can and get the money back to the victims," Fisher said.
Hundreds of people showed up Saturday to get a look at the items. Many people were unimpressed by Rothstein's style.
"I don't think he had very good taste," said Ted Slaughter.
Others thought with all the money he had, Rothstein could've afforded better things.
"With all the money he could have bought good quality, wonderful pieces," said Joy Cherry. "Instead he just bought pedestrian garbage."
Robin Blake found a few items of value.
"Some nice handbags, some nice autographed professional sport teams for my daughter that she likes," she said.
However, her husband Jeff, said Rothstein's stuff left something to be desired.
"It's kind of like going through a dead person's stuff," he told CBS 4's Carey Codd. "It's just creepy. I certainly wouldn't want anything he ever wore."
Several people said that looking through the huge room of Rothstein's items made them feel even more sorry for his victims.
"It's very sad for people that gave him money and he stole from them and all he gets is jail time," said Jerry, declining to provide his last name. "I think it should be even worse than that. He might have destroyed some lives."
The first auction preview open to the public runs from 9 a.m. to 4 p.m. Saturday in a warehouse at the Gallery Center in Boca Raton, 608 Banyan Trail, just off Military Trail north of Glades Road.
A second preview will be held 9 a.m. to 4 p.m. Saturday, Oct. 8th at the same location.
A preliminary online auction will be held at www.fisherauction.com between October 6 and 13 for about 350 of the lots.
The live auction will be held at 10 a.m. Saturday, October 15 at the Embassy Suites Boca Raton, 661 N.W. 53rd Street, Boca Raton. Online bids also will be accepted then.
Registration will begin at 8 a.m. Bidders will be required to place a $500 refundable cash deposit.
Go to www.fisherauaction.com for more information and to register to bid.
Rothstein is currently serving a 50-year prison sentence after pleading guilty last year to racketeering, money laundering and fraud.
He is serving the sentence in an undisclosed location after helping authorities prosecute a reputed Mafia figure.
