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DA Bling Auction Raised $250K for Wall Street Crooks' Victims
By
Sabrina Jaszi
Published Mar 8, 2010
Modified Mar 8, 2010
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By
Sabrina Jaszi
Published Mar 8, 2010
Modified Mar 8, 2010
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Yesterday at the Belvedere Hotel the Manhattan DA auctioned off glitzy bracelets, watches and cuff links from the collections of two convicted Wall Street crooks. Benefits from the sale will got to victims of equities trader David Holzer and onetime Morgan Stanley boss Richard Garaventa. The former was sentenced to 15 years after stealing $15 million from friends, claiming he’d invest it. The latter took $2.5 million from his company and is serving two-six years. Both bought lots of jewelry.
New Yorkers showed up at the auction, cash in hand, with spending totaling a quarter of a million dollars. The highest selling item was a 3.12 carat diamond that went for $24,000. "It's worth a lot more," said its buyer, who purchased it for his wife. A gold Rolex adorned with diamonds went for $10,000 and the cheapest item, a pair of costume-jewelry cuff links, sold for just ten bucks. Buyers expressed sadness for the victims, but glee at their newly acquired jewelry. "I feel bad they lost out," Bob Kramisen told the Daily News. His wife chimed in, saying she planned to flaunt her bling. "They're not for the safety deposit box," she said.
Tagged
crook
da auction
David Holzer
diamond
distric attorney
gold
Jewelry
Richard Garaventa
rolex
wall street
watch
Sabrina Jaszi
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