Headlines

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

Published

8 years ago

February 18, 2016

INSTORE Staff

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.

Wilkerson Testimonials

Wilkerson: “They Feel Like Family”

Newton’s Jewelers in Fort Smith, Ark., was a true institution. But after being at the helm for most of his life, owner (and descendent of the original founder) Kelly Newton decided it was time to retire. He chose Wilkerson to handle the sale. “I’ve known the owners of Wilkerson for a long, long time. I felt at home with them,” he says. The final retirement sale was just a “blast” and the Wilkerson sales team made it so very simple and straightforward, says Newton. Would he recommend Wilkerson to others? Absolutely. “They’ve done incredible work,” says Newton. “They feel like family.”