Friday, 27th February 2004 (5187 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.

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.

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.

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.

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.

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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