Stanford items to go on auction

HOUSTON – Guns, enough fine china to serve 50 people and an elaborate antique desk owned by disgraced financier R. Allen Stanford will be for sale in Texas.
Seth Worstell Auction Co. will offer the items Saturday at auction in Houston, where Stanford had offices.
Stanford, who remains in custody, is accused of bilking investigators – including many from Mississippi – out of $7.2 billion in a Ponzi scheme involving his Stanford Financial Group.
The Houston Chronicle reported Thursday that a court-appointed receiver, as of Jan. 31, had taken in $188 million from Stanford bank accounts and the sale of his investments and real estate. The funds will help pay lawyers and investors.
Other items for sale include a mahogany conference table with a matching set of 10 leather chairs, a lectern with Stanford’s eagle logo and computer equipment.
In February, Stanford’s former office in Tupelo was auctioned for $750,000. Businessman V.M. Cleveland, who also is owner and chairman of the Tupelo Furniture Market, was the sole bidder.
The office’s contents – which included leather chairs, mahogany desks, paintings, office equipment and flatscreen TVs – were purchased by Lakewood, Colo.-based Office Liquidators two years ago. Another liquidation company bought $2 million worth of furniture and decorations from Stanford’s Miami offce.

NEMS Daily Journal

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