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Friday, 27th February 2004 (6692 views)

A host of top quality gold jewellery has gone under the hammer in the US after an auction sold off a collection of pieces on behalf of the state.<BR/><BR/>The unusual treasure trove is the result of confiscated goods recovered from the investigation of The Hickman Agency, which was alleged to have operated a scam selling up to $13 million in worthless securities to unsuspecting investors.<BR/><BR/>In a bid to recover some of the funds a Pottawatomie County courtroom auctioned off more than $220,000 worth of jewellery in a single collection.<BR/><BR/>In total more than $840,000 was spent on gold rings, necklaces, watches and other jewellery, as the lavish lifestyle the Hickman founders followed was systematically stripped.<BR/><BR/>Court-appointed receiver Stephen Moriarty has targeted the personal possessions and assets of Merl William Hickman, his wife, Sarah, and son, Merl William Hickman Jr.<BR/> <BR/>The collection includes a number of fine quality gold pieces, with the funds raised used to claw back some of investors' lost money.

 

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