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Up for Auction: Ponzi Schemer’s Diamonds and Watches Valued Up to $10M

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A 12-carat yellow diamond ring is the headliner.

A lavish lot of jewelry purchased with money that Scott Rothstein made off a massive Ponzi scheme will go to the highest bidder, Fox 13 reports. The article says that Rothstein scammed investors to the tune of $1.2 billion, buying diamonds and watches valued between $8-$10 million along the way. Now those items will be auctioned by Old Northeast Jewelers in St. Petersburg, FL, with the proceeds going back to those who were bilked. The lot includes a 12-carat fancy intense yellow diamond ring which shop owner Jeffrey Hess is hoping will fetch at least $400,000. “It’s a pretty extraordinary group of stuff. The fellow had very good taste in watches and very good taste in diamonds,” he told the news station.

Read more at Fox 13

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