Photo: Mugshot via The Smoking Gun
Another collection of items tied to former financier R. Allen Stanford has hit the auction block. Stanford was convicted on charges that his former investment company, Stanford Financial Group, was a massive Ponzi scheme and fraud and is currently serving an 110-year prison sentence.According to the Houston Chronicle, the items being auctioned off are from Stanford’s estate in St. Croix, U.S. Virgin Islands and include:
- A 1.75 ct. Tiffany & Co. platinum setting necklace valued at $75,000.
- An antique table values at $30,000
- Wedgewood china, valued at $20,000
- A bronze eagle statue, value unknown
- A baby grand piano, value unknown
- Several bike taxis, value unknown
- Cuff links, value unknown
- Shovels branded with the company logo used at groundbreakings, value unknown
Two previous auctions of Stanford’s belongings have yielded $267,230. The proceeds from each will go toward settling some 20,000 claims against Stanford Financial Group, totaling more than $7 billion.