Headlines

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

Published

9 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.

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After almost 60 years in business, Breakiron Jewelers in Erie, Pennsylvania, was closing its doors. And the store’s owner, Linda Breakiron, was ready for it. She had run the store as its sole owner since the beginning of the millennium and was looking forward to a change. Of course, she called Wilkerson. Breakiron talked to other jewelers who had used Wilkerson and was satisfied with their response. “They always had positive feedback,” she recalls. With the sales, marketing and even additional inventory that Wilkerson provided, Breakiron insists she could never have accomplished her going-out-of-business sale without Wilkerson’s help. She’s now ready for the journey ahead, but looking back, she’d be sure to recommend Wilkerson. “They just made the whole process very seamless.”