NC financier's possessions bring high bids

RALEIGH, N.C. (AP) - The possessions of a former North Carolina financier have drawn big bids at an auction.

By: The Associated Press | WNCT
Published: November 19, 2009

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RALEIGH, N.C. (AP) - The possessions of a former North Carolina financier have drawn big bids at an auction.
The News & Observer of Raleigh reported the auction of former Raleigh financier William Wise attracted about 1,600 bidders Wednesday.
The 58-year-old Wise has been charged civilly, but not criminally. Authorities don't know where he is.
The Securities and Exchange Commission says Wise used the Caribbean-based Millennium Bank as a front for a Ponzi scheme in which he stole nearly $70 million from 375 investors since 2004.
The SEC sued Wise and others in March and courts froze his assets.
An elaborate gold ring with a diamond of nearly 4 carats went for $150,000. The winning bid for his Mercedes convertible was $80,000. A Cadillac Escalade went for $64,000.
The sale totals were not available Wednesday night.

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Information from: The News & Observer, http://www.newsobserver.com

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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