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Ponzi Schemer's Pricey Possessions To Hit Auction Block

POMPANO BEACH (CBS4) – Interested buyers are getting a first-hand look Monday at hundreds of high-priced personal items seized during the Scott Rothstein Ponzi investigation before those items hit the auction block later this week.

The last of Rothstein's personal belongings, mostly jewelry and watches, are on display at VSE's Pompano Beach warehouse, located at 2951 NW 27th Avenue, on Monday from 9 a.m. to 4:30 p.m. and Tuesday from 8:30 a.m. to 12:30 p.m.

Wednesday's auction, which will be held at the Broward County Convention Center, will include two vehicles and more than 300 lots of jewelry, watches, and collectibles. The items on the block were all acquired by Rothstein, and others, through his massive Ponzi scheme.

"They had good taste if anything but it's sad to see this like this. These are people's lives we're looking at so if they can recover anything that's the best part. Hopefully, it will help," said potential buyer Linda Katz.

"The proceeds from these auctions are placed in the U.S. Treasury's asset forfeiture fund and the net proceeds from the auction go to the victims of Scott Rothstein's crimes subject to the outcome of an appeal which is currently pending before the 11th Circuit Court," explained auctioneer Rick Levin.

Rothstein entered a guilty plea in January 2010 and was sentenced to 50 years in federal prison in June 2010.

The vehicles slated to be auctioned off are a 2009 Mercedes-Benz and a 2008 Corvette.

More than 200 watches will also hit the block including a white gold and silver Piaget; other designer watches include Patek Philippe, Franck Muller, Rolex and Gerald Genta.

During Monday's preview, the flashier pieces were examined, photographed and re-examined mostly by dealers who are looking to get the high ticket items at a low price, like an Audemars Piguet model made especially for Arnold Schwarzenegger.

If it's jewelry you're looking for, there's a 12-carat yellow diamond ring that usually retails for upwards of $100,000 but at Wednesday's auction, you might get a deal, but jewelry dealer Alan Richardson doubts it.

"It's impossible when you have dealers here like myself, there are never any bargains here."

In addition to the cars and jewelry, there are also a few collectibles including a framed autographed photo of Paul McCartney w/ Certificate of Authenticity and a signed Super Bowl XL Commemorative Riddell Football.

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