Scott Rothstein's exotic cars and yachts up for auction

Posted by: TimothyT on: 05/09/2010 09:45 AM [ Print | 0 comment(s) ]

As the dismantling of Ponzi schemer Scott Rothstein's empire continues, the next items to go under the auction gavel were among his most coveted possessions: The Italian supercars, the luxury British Grey-Poupon-mobiles and the status-establishing yachts.

Now that all his personal political and sports memorabilia have been auctioned off (netting more than $150,000 for creditors of his now-bankrupt Fort Lauderdale law firm) federal prosecutors are moving swiftly to offload the exotic cars and watercraft.

Prosecutors won court permission Friday to auction off the toys. The money will eventually be distributed to Rothstein's bilked investors. The government wants to quickly dispose of the cars and yachts to preserve their value.

The awesome toy list includes:

1990 Ferrari F40
2009 white Bentley convertible

2008 yellow McLaren Mercedes Benz SLR
2007 black limousine Ford Expedition
2008 Red Ferrari 430 Spider
2007 silver Rolls Royce convertible
2006 silver Hummer
2008 Cadillac Escalade
1967 red convertible Corvette
2008 Black Bugatti Veyron EB 16.4

2008 blue Rolls Royce drophead convertible
2006 red Ferrari F430 Spider

2008 Chevrolet Corvette
2009 Chevrolet Corvette Z06
2009 blue Maserati GranTurismo coupe
2009 White Mercedes Benz
2008 Mercedes Benz S65 VR Turbo
2009 red BMW convertible
2009 Mercedes Benz SLK 350 convertible
2010 white Lamborghini Lp-670sv

2007 87-foot Warren yacht
33-foot Aquariva

It's like Jay Leno’s garage, when did this guy have time to work? Not to mention his beautiful wife who would take up a little of my time every day! There is not an item on this list I would not love to have in my garage or in the water. Of course, having all the money he had made it easy to blow (someone else's) money on one of the worst investments available, automobiles. Many of these cars will only bring about half of what they cost new with a few obvious exceptions.

It is recorded that he owned or had interest in 24 properties, for which he paid $47 million; 20 exotic cars, including Ferraris, Lamborghinis and Bentleys; three yachts worth more than $5 million; more than 300 pieces of jewelry, 20 bank accounts containing $20 million; and Rothstein’s interests in two dozen businesses and more than 100 corporations.

Rothstein, 47, pleaded guilty to five federal felonies and faces up to 100 years in prison. He is the only one to be charged so far.

It will be an additional month now before the victims learn how many years he will spend in federal prison. The delay came at the request of Rothstein's attorney. U.S. District Judge James Cohn granted the postponement, moving the sentencing originally set for May 6 to June 9. Attorney Marc Nurik told the court that he was only able to meet with Rothstein twice in the last 5 weeks.

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