Carpoff was required to forfeit many of his assets including his collection of luxury and collector cars. An auction of the cars netted $8.233 million, the U.S. attorney’s office said.
The Carpoffs used some of the money they made from the Ponzi scheme to buy a minor-league baseball team and a NASCAR sponsorship. They also bought luxury real estate in California, Nevada, the Caribbean and Mexico; a subscription private jet service; a suite at a professional football stadium; and jewelry.
This article was provided by Bloomberg News.