4-tonne Berlin Wall section raises $23,500 for Ponzi scheme victims

paulfrasercollectibles

2015-06-26 13:18:04

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4-tonne Berlin Wall section raises $23,500 for Ponzi scheme victims

A 4-tonne section of the Berlin Wall has sold after being seized as an asset by authorities

A 4-tonne section of the Berlin Wall has sold at a May 25 auction in Georgia, USin an attempt to pay back the victims of a Ponzi scheme.

Berlin Wall auctionMuch of the remaining part of the Berlin Wall will be torn down in a new gentrification scheme

The piece was originallybought with the money earned in the Ponzi scheme, and raised $23,500 of the $7.3m needed to compensate the 57 investors.

Measuring 12-foot square, the slab of concrete was bought by Ray Stanjevich, owner of three Friends American Grill restaurants. It is currently being displayed in front of Suwanee City Hall, Georgia.

Germanauthorities recently decided that much of the Berlin Wall will be removed to make way for new luxury apartment buildings, destroying perhaps the most important symbol of communism's grip over Eastern Europe.

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