Corporate Scandals Produce Hot Bargains
It was a chilly Thursday morning in an industrial neighborhood a half-hour's drive south of Los Angeles. But that didn't stop 1,500 people from turning out to bid at a government auction sponsored by the Treasury Dept. As a propeller-tongued auctioneer and four assistants known as "ring-men" worked the crowd, more than 300 confiscated items were auctioned. Among the treasures: gold ingots and coins seized from an illegal "digital gold" money-transfer business and a 2002 BMW 530i taken from a nurse who committed Medicare fraud.
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