Bentley automobiles, a 5-carat diamond ring and a Michael Jordan basketball jersey are among the hundreds of items that will be auctioned off next month from the estate of the late Charlotte businessman Rick Siskey and his wife, Diane.
Rick Siskey, 58, took his own life in December, days after court filings gave the first public indication that he was under investigation for fraud. An FBI affidavit unsealed in January alleged he was operating a Ponzi scheme for years.
Four Siskey companies have since been pushed into federal bankruptcy court in Charlotte, and filings show that more than 100 investors have submitted claims exceeding $49 million. A court-appointed bankruptcy trustee, Joe Grier, is now examining investor claims and Siskey’s remaining assets.
Diane Siskey’s attorney, Thomas Walker, said his client continues to cooperate with the bankruptcy trustee as well as the administrator of her husband’s estate. “It is anticipated that the proceeds of the auction will be used for the benefit of the creditors of the bankrupt entities and the estate,” he said.
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Grier said he hopes most of funds in the Siskey estate will go to investors in the four bankruptcy cases.
Leland Little Auctions of Hillsborough and Iron Horse Auction Co. of Rockingham are holding the public auction July 20 at the Charlotte Convention Center. Bids can also be submitted online and over the phone.
Leland Little, president of Leland Little Auctions, said it was difficult to say how much money the auction will ultimately raise.
“I don’t have any projections, but I do know there are some very good vehicles, some very good coins, some good guitars, some good jewelry and some beautiful household furnishings,” Little said. “I would expect there to be interest, and I would expect there to be strong prices.”
Among the items for sale:
▪ 13 automobiles, including two Bentleys and a 1934 Mercedes Benz.
▪ 35 jewelry and watch items.
▪ Sports items, including a framed Michael Jordan signed jersey and a Floyd Mayweather signed boxing glove.
▪ Dozens of guitars, including ones signed by musicians Toby Keith and Kenny Chesney.
The auction is the latest move to sell Siskey assets. In April, the Siskey’s SouthPark mansion was listed for sale at a price of $5.5 million.
Diane Siskey has pledged to set aside $37.5 million of the $47 million in life insurance proceeds from her husband’s death for investors. But attorneys for investors have said that might not be enough.