Former Banker George Levin's Yacht Could Fetch $1M In Auction
Michael Moecker & Associates' Philip J Von Kahle is helping auction off the 30-knot luxury yacht "Clueless" once owned by Fort Lauderdale investor George G. Levin. George, of course, was found guilty of funneling some $300M of Banyon Investors Fund money into the notorious Scott Rothstein Ponzi scheme.
The Palmer Johnson Cruiser Express has twin 1150hp engines that push a top speed of 34.5mph (or 30 knots). Philip says there's been strong interest from potential buyers and he could see the yacht sell for upwards of $1M. George was accused in 2012 of defrauding more than 170 investors by funneling their money into the scheme that promised big returns in exchange for funding early settlement payouts. Last year, he was convicted of those charges, and his former yacht is among the assets in a court-ordered forfeiture.
Here's the yacht's main salon, decked out in leather and hard-carved African wood. For the mastermind of the Ponzi scheme, Scott himself was sentenced to 50 years in fed prison in a story that would make a fascinating Hollywood blockbuster. The bankruptcy administrator plans to have a publicly held preview of the yacht Feb. 12 from noon-5pm and Feb. 13 from 10am-noon at the Boatyard Restaurant at 1555 SE 17th St in Fort Lauderdale, fortuitous timing given the Miami International Boat Show will be in town at the same time.