For Immediate Release
|November 30, 2011||
Cindy Bridges, U.S. Marshals Service (202) 487-5528;
Lynzey Donahue, U.S. Marshals Service (202) 307-9075;
Bob Sheehan, Gaston & Sheehan Auctioneers (512) 251-2780
|U.S. Marshals To Hold National Jewelry Auction, Includes Jewelry that Belonged to Convicted Embezzler Sue Sachdeva|
WASHINGTON – The U.S. Marshals Service is holding a national jewelry auction, with nearly 900 lots of jewelry, diamonds, watches and collectible coins, live in Austin, Texas, and simulcast on the Web at www.txauction.com Friday and Saturday. A preview will be held at the Austin Convention Center Thursday from noon to 5 p.m. CST.
The U.S. Marshals Service consolidates pieces from cases nationwide and holds a large auction several times a year. “As the primary custodian of the Department of Justice Asset Forfeiture Program, the U.S. Marshals Service manages and disposes of assets seized and forfeited from cases nationwide,” said Eben Morales, assistant director for the Asset Forfeiture Division of the U.S. Marshals Service.
“The assets being sold at auction exhibit the power of forfeiture to remove the proceeds of crime and disrupt and dismantle criminal organizations. Proceeds from this auction will be reinvested into the law enforcement community and applied as reparations to the victims of crime.”
Day two of the auction includes 256 lots of jewelry (lots 505-637, 641-650, 676-706, and 742-823) formerly belonging to convicted embezzler Sujata “Sue” 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.
Platinum collectible coins (lot 8), a diamond ring (lot 25), a Cartier watch (lot 41), and a Patek Phillippe watch (lot 234) are some of the items up for auction.
This jewelry (lots 505, 603, 573, and 582) formerly belonged to Sachdeva.
Media announcement: A press preview will be held 11 a.m. to noon Thursday at the
Austin Convention Center.
Additional information about the U.S. Marshals Service can be found at http://www.usmarshals.gov.
America’s Oldest Federal Law Enforcement Agency