Kirk Wright assets fetch about $2 million
Published July 30th, 2006
The assets of fallen hedge-fund manager Kirk Wright fetched about $2 million at an Atlanta auction yesterday - a small fraction of the more than $100 million the Bronx native is accused of bilking from roughly 430 investors, which included several NFL stars and his own mother.
“We’ve got somewhat of a thankless job,” said Scott Schwartz, of Auction Management Corp., which oversaw the court-ordered auction.
“No matter how well we do, it won’t be enough.”
Wright’s six-bedroom home, described as a million-dollar house in a $300,000 neighborhood, netted a better-than-expected $1 million as publicity generated by the scandal drew an usually large crowd of bidders.
His three sports cars - a Bentley, an Aston Martin and a 1967 BMW - garnered $126,000, $121,000 and $10,000, respectively.
Also on the block were a downtown loft, a white baby grand piano, his wife’s mink stole and furniture - some of which was damaged by vandals during a burglary a couple of months ago.
Investors put more than $100 million into Wright’s Atlanta-based hedge fund, International Management Associates, which turned out to be a sham.
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