(February 14, 2011) Auto Remarketing reports today on the government auction of 17 vehicles belonging to Byron Keith Brown, convicted recently of a huge Ponzi scheme.

Working on behalf of the U.S. Treasury, VSE Corp. — a federal services company — is holding a public auction next month to sell the seized and forfeited vehicles owned by Brown.

The sale will be held March 1 beginning at 1 p.m. at the Manheim Baltimore-Washington Auction faciility in Elkridge, Md. The inventory can be seen from 1 p.m. to 4 p.m. on Feb. 28.

Receiving the proceeds generated from the sale is the Treasury’s Asset Forfeiture Fund. Net proceeds from the sale are to be offered as restitution for the scheme’s victims.

The vehicles were reportedly obtained by Brown through the scheme, which is said to have defrauded online investors of more than $17 million.

1936 Auburn Speedster
among 17 cars in auction
 
Convicted of wire fraud and money laundering in June 2009, Brown received a 15-year prison sentence on Dec. 21 and must undergo three years of supervised release after he leaves prison.

“Byron Brown used the Internet to make it appear as if he were running an investment management business for wealthy investors, when in fact he was stealing millions of dollars from investors and using it to buy a fleet of luxury cars,” U.S. Attorney Rod Rosenstein claimed. “In addition to sentencing criminals to prison, our goal is to seize any assets purchased with criminal proceeds.”

The vehicles for sale include:

2007 Lamborghini Murcielago                   
2005 Rolls Royce Phantom
2004 Mercedes Benz Maybach 57
2006 Aston Martin
2008 Maserati Gran Turismo
2002 Ferrari 360
2004 Bentley Continental
2007 Jaguar XKR CPE
1936 Auburn Speedster
2006 Land Rover
2006 Mercedes Benz S500                          
2005 Land Rover Range Rover
2007 BMW 3 Series                        
2004 Audi AA8
2005 BMW 7 Series                        
2005 Volkswagen Beetle
2005 GMC Canyon

Those interested in seeing the vehicle list and photos can visit the government web site.