Colorado
Luxury items from Colorado Ponzi scheme to be auctioned
Posted: Jan 26, 2011 5:45 AM by Bea Karnes
Updated: Jan 26, 2011 5:49 AM
DENVER (AP) - A 45-foot motor coach worth $685,000, five collectible vehicles from the 1930s and other items seized during a Ponzi scheme investigation will be auctioned off this weekend in Denver.
The U.S. Marshals Service seized the items as part of an investigation into Shawn Merriman, a former bishop with the Mormon Church. Merriman pleaded guilty to defrauding at least 67 investors and in September was sentenced to more than 12 years in prison.
Authorities say Merriman promised investors returns of 7 to 20 percent, but spent the money on safari trips, antique cars and artwork.
The items are being auctioned Saturday by Dickensheet and Associates Inc.
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