Ladies, Achtung! U.S. Marshal Service Announces Huge Jewelry Auction
Posted: Friday, March 04, 2011
by Joel Hendon
http://hebronics.org/index.html
The United States Marshall Service issued a news release today, March 4, 2011, announcing a humongous jewelry auction coming soon, online.
More than 300 lots of diamonds, watches and fine jewelry belonging to convicted embezzler Sujata “Sue” Sachdeva will be sold during a live and online simulcast auction in Milwaukee on March 19, 2011, by the U.S. Marshals Service Asset Forfeiture Division and the Eastern District of Wisconsin. The property was seized and forfeited in connection with the criminal prosecution of Sachdeva, who was convicted of embezzling $34 million from the Milwaukee-based company, Koss Corp. (USMS press release March 4, 2011)
Sujata "Sue" Sachdeva was formerly employed as vice president of finance, for the Koss Audio and Video Corporation, a firm engaged in the manufacture of consumer electronics located in Milwaukee, Wisconsin.
Sachdeva reportedly embezzled some $34 million dollars from her employer through unauthorized purchases. According to an article in Business Insider , she was earning a
salary alone of around $200,000. But she is alleged to have used company funds to pay down her credit card bills in the amount of over $4.5 million between January 2008 and December 2009. She was sentenced to 11 years in prison and a number of forfeitures.
(18 karat white gold diamond necklace-one of many in her possession-USMS photo release)U.S. District Judge Lynn Adelman ruled the government could take the $268,246 equity in the Sachdeva’s $812,000 home. They are also given their $115,000 account at the Park Bank plus, four time-shares at Starwood's Princeville Ocean Resort in Hawaii, plus thousands of personal items such as jewelry, watches, clothing and personal belongings.
Proceeds from the auction will be deposited into the U.S. Department of Justice Asset Forfeiture fund to compensate the victims of the crime.
Anyone who has a desire to check this auction out or to participate in it, instructions may be found on the press release site: Click Here.
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Top-level comments on this article: (2 total)Wow! I'm sure everything in this auction is out of my league but it sure does pique one's interest!! hehehe... Good article, daddy. I think I'll visit the link just out of curiosity.Thanks for the comment Linda and the rating. Visit it the link but don't let those jewels get the best of you. You are talking about mega bucks here. Besides, getting in a bid and getting the merchandise will be unreal.
Good for you; your heart is (almost) always in the right place!
Kudos, for this article! We must cut these people's salaries at the top, before one salary, at the bottom is touched.
PaulThanks for reading and for the compliment (almost). You are a worthy friend, my friend.
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