Wednesday, April 6, 2016

Rothstein Investor's Home Sells for Nearly $3 Million

Scott Rothstein
A Boca Raton mansion owned by Scott Rothstein investor and auto magnate Ed Morse has been sold at auction, but a yacht owned by another investor, George Levin, did not.

The two items were among the final pieces of the disbarred Ponzi king's tainted haul, with the proceeds to be distributed to victims of the $1.2 billion fraud scheme.

The house sold March 3 for $2.85 million—$350,000 more than had been offered by a stalking horse bidder. The buyer was an undisclosed businessman, said Jason Welt, whose Weston company, Trustee Realty Inc., handled the sale.

U.S. Bankruptcy Judge Raymond Ray in Fort Lauderdale was expected to approve the sale at a hearing Tuesday.

Morse, who died in 2012, was swindled out of $57 million he gave to Rothstein through his son, Ted Morse. The senior Morse planned to move into the house, which cost him $9 million to build.

Levin's $1 million yacht named — some say ironically — Clueless didn't sell after being featured at the Miami International Boat Show last month. The yacht has three staterooms, five bathrooms, an atrium, captain's cabin, handcrafted African wood and leather upholstery. Hollywood-based Michael Moecker & Associates Inc. is accepting offers starting at $400,000.

A final online auction of 31 pieces of jewelry, watches, pens and gold bars owned by Rothstein is planned in April.

Full Article & Source:
Rothstein Investor's Home Sells for Nearly $3 Million

See Also:
Hospital Returns $1 Mil Donation

Kim Rothstein, Wife Of Ponzi Schemer Scott Rothstein, Charged With Conspiracy To Commit Money Laundering

Scott Rothstein Gets 50 Years in the Federal Pen

1 comment:

Anonymous said...

All these years later and the Rothstein case is still affecting people!