Rick Siskey’s son held party at mansion ahead of estate auction

The son of the late Rick Siskey, the Charlotte businessman accused of running a Ponzi scheme that cost investors millions, had a party at the family’s SouthPark home last weekend ahead of an estate auction this week, according to social media posts.

The auctioneers said they heard about the party after the fact but have determined no items were damaged. Previews of the auction items, which range from Bentley automobiles to a 5-carat diamond ring, are taking place this week at the Sharon Road home, which is also for sale. The auction is Thursday at the Charlotte Convention Center.

“As soon as we found out about it, we had people on the ground and did a property inspection,” Will Lilly, of Iron Horse Auction Co., told the Observer Monday. “It all seemed like we left it on Friday.”

The status of the Siskey possessions is important because proceeds of the auction are expected to benefit creditors, including investors in Siskey’s various funds. Investors who face potential losses include individuals who invested retirement money, life insurance proceeds and a trust for a disabled woman.

Lilly said he wasn’t sure if Rick Siskey’s widow, Diane, knew her son, Richard Siskey Jr., planned to hold a party. An attorney for Diane, Thomas Walker, could not be immediately reached.

Leland Little, whose Leland Little Auctions is co-hosting the sale, also said everything at the home was in “good order.”

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 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.

An Instagram post Sunday from the account of Richard Siskey Jr., 29, shows a crowd of people in swimsuits posing in front of the pool house at Siskey’s mansion.

“We will not go quietly into the night!,” the post says, referencing a quote from the movie “Independence Day.” “’We will not vanish without a fight! We’re going to live on!’ #thelastwaltz#auctionparty #nailedit”

For more information on the auction see www.lelandlittle.com or www.ironhorseauction.com.

This story was originally published July 17, 2017 at 2:11 PM with the headline "Rick Siskey’s son held party at mansion ahead of estate auction."