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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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Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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