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For Immediate Release

Contact:
March 03, 2011 Adam Sugar, U.S. Marshals Service (202) 307-3445;
Bob Sheehan, Gaston & Sheehan Auctioneers (512) 251-2780
U.S. Marshals to Auction Jewelry Formerly Belonging to
Convicted Embezzler Sujata “Sue” Sachdeva
WASHINGTON – More than 300 lots of diamonds, watches and fine jewelry belonging to convicted embezzler Sujata “Sue” Sachdeva will be sold during a live and online simulcast auction in Milwaukee on March 19, 2011, by the U.S. Marshals Service Asset Forfeiture Division and the Eastern District of Wisconsin. The property was seized and forfeited in connection with the criminal prosecution of Sachdeva, who was convicted of embezzling $34 million from the Milwaukee-based company, Koss Corp.

Sachdeva used company funds to pay for personal purchases, which included thousands of personal property items including fine jewelry, watches, upscale clothing and accessories. Sachdeva is currently serving 11 years in a federal prison. The live auction on March 19 will be followed by an online auction of clothing, accessories and personal items, starting on March 24.

Proceeds from the auction will be deposited into the U.S. Department of Justice Asset Forfeiture fund to compensate the victims of the crime.

Location: Wyndham Milwaukee Airport Hotel and Convention Center
4747 S. Howell Ave
Milwaukee, WI 53207

Media Only Preview:

Thursday, March 17, 1 p.m. to 4 p.m. CDT
All attendees must present media credentials for entry. For information e-mail Adam.Sugar@usdoj.gov.

Public Preview:

Friday, March 18, 11 a.m. to 4 p.m. CDT

  • Items will not be on display at the auction and can only be viewed on the preview day.
  • All attendees must present a government-issued photo ID for entry.

Live Auction:

Saturday, March 19
Start time: 10 a.m. CDT
Web Simulcast: www.txauction.com

Information:

  • Items will not be on display at the auction and can only be viewed on the preview day.
  • All attendees must present a government-issued photo ID for entry.
  • $500 deposit required for live bidders.
  • All assets are sold “as is, where is.”
  • Registration is open for Web simulcast at www.txauction.com. Scroll down to “US Marshals Live/Simulcast National Jewelry Auction – 3/19/2011.”
  • See www.txauction.com and www.usmarshals.gov for more bidder requirements, sales terms and conditions.
18 karat white gold diamond necklace 7 carat platinum diamond ring Chanel white ceramic diamond wristwatch
18 karat white gold diamond necklace 7 carat platinum diamond ring Chanel white ceramic diamond wristwatch

The U.S. Marshals Service is responsible for managing and selling seized and forfeited properties acquired by criminals through illegal activities at the federal level. Proceeds generated from asset sales are used to compensate victims, supplement funding for law enforcement initiatives and support community programs.

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America’s Oldest Federal Law Enforcement Agency

www.usmarshals.gov