RALEIGH, N.C. (AP) - Jewels, art, cars and more than 150 bottles of fine wine will be auctioned off in North Carolina's capital city to help recoup nearly $70 million in losses for investors duped in an alleged Ponzi scheme.
Rockingham-based Iron Horse Auction Co. is conducting the auction Wednesday under a federal court order to sell the assets of 58-year-old William Wise who operated the Caribbean-based Millennium Bank from an office in Raleigh.
The Securities and Exchange Commission alleges that Wise used the bank as a front for a Ponzi scheme in which he stole nearly $70 million from 375 investors since July 2004.
No charges have been filed in the case, but after the SEC sued Wise and others in March, the courts froze all of Wise's assets.
Wise's whereabouts are unknown.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
Web Search powered by YAHOO!
|
NewsNews
Former NC banker's luxury goods to be auctioned
RALEIGH, N.C. (AP) - Jewels, art, cars and more than 150 bottles of fine wine will be auctioned off in North Carolina's capital city to help recoup nearly $70 million in losses for investors duped in an alleged Ponzi scheme.
By:
|
WNCT
Published: November 18, 2009
Published: November 18, 2009
Email
Facebook
Google
Twitter
Favorites
MoreAdvertisement
View More:
Associated Press,
Bank,
Business_Finance,
Caribbean,
Iron Horse Auction Co.,
Law_Crime,
Millennium Bank,
North Carolina,
Raleigh,
Rockingham,
Securities And Exchange Commission,
Usd,
William Wise
Not what you're looking for? Try our quick search:
Reader Comments
*Facebook Account Required to Comment. If you are not already logged into Facebook, please click the comment button to do so.Deal of the Day
Advertisement
» More Around The State
- NC Bar files complaint against former Durham DA
- In 2012, NC campaigns heat up earlier than usual
- Latest South Carolina sports
- Latest North Carolina sports
- Latest North Carolina news, sports, business and entertainment:
- Bill Clinton to raise funds for Charlotte's D
- NC town says: Don't blame us for nearby KKK rally
- Holiday sees surge in Southeast NC beach tourism
- Feds probe vandalism tied to NC Confederate marker
- NC nonprofit could benefit from tuition law
Interactive Radar
Advertisement
Caught On Camera
Weekend Web Only: Unique Home - The House Arc
Home is where you want it to be. You can even have it shipped and assemble it yourself.
Most Popular
ViewedNews
- 1.Gates County store clerk shoots, kills robbers
- 2.UPDATE: Family Searching for Missing Mom
- 3.Storm Team 9: Tracking Tropical Storm Beryl
- 4.Greenville O'Charley's closes its doors
- 5.Alberto Downgraded to a Tropical Depression
- 6.UPDATE: Suspect In custody for shooting death of 9-year-old boy
- 7.New Info: Washington man dies in birthday house fire
- 8.Storm Team 9: Storms scattered around the area
- 9.The Bully Project
Advertisement
Advertisement