For Immediate Release
|March 03, 2011||
Adam Sugar, U.S. Marshals Service (202)
Bob Sheehan, Gaston & Sheehan Auctioneers (512) 251-2780
U.S. Marshals to Auction Jewelry Formerly
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.
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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.