R. Allen Stanford's property auctioned off

Saturday, October 06, 2012

Thousands of items that once belonged to billionaire R. Allen Stanford are now decorating the homes of Houstonians.

The third and final court-appointed auction of Stanford's estate was held in northeast Houston Saturday morning. Buyers browsed through tables full of guns, jewelry and antiques.

Most of the items came from Stanford's home in Saint Croix. One man came to buy office furniture for his new business.

"Some file cabinets, whatever I can get a good deal on; a great buy," said Marvin Bennett.

Money from the auction will go to the victims of Stanford's Ponzi scheme. Stanford is serving a 110-year prison sentence for defrauding investors of seven billion dollars.

(Copyright ©2014 KTRK-TV/DT. All Rights Reserved.)

Get more Local »

blog comments powered by Disqus