Linda Mastro personal items headed to auction block
Jewelry not included in auction June 26 of personal items belonging to fugitive real-estate magnate Michael Mastro’s wife Linda.
Seattle Times business reporter
On June 26, the public will have a chance to get a piece of possessions seized from fugitive Seattle real-estate magnate Michael Mastro and his wife, Linda.
The James G. Murphy Co. is auctioning luxury items, including brand designer jackets, dresses, furs, handbags, sunglasses, luggage and other items that once belonged to Mastro’s wife, Linda, the company said.
But bidders won’t see any of the almost 300 pieces of jewelry, including two giant diamond rings, that were seized in France, said Jim Rigby, the trustee appointed by federal bankruptcy court to recover money for creditors.
The U.S. Justice Department, Rigby said Tuesday, kept most of the 300 pieces of jewelry to auction later, but released the two diamond rings to the bankruptcy estate.
Rigby said he sold one of the two rings — a 27.8-carat pear-shaped diamond — earlier this month for $1 million. The other ring, a 15.93-carat round diamond, is still for sale.
On June 26 from 8 a.m. to 10 a.m., bidders can preview the items up for sale at the auction company’s facility at 18226 68th Ave. N.E. in Kenmore. The auction begins at 10 a.m.
Mastro, a prolific developer, was forced into bankruptcy by three banks in 2009. In 2011, he and his wife ignored a bankruptcy judge’s order to turn over two giant diamond rings, fled to France and left behind an estimated $250 million in debts.
Sanjay Bhatt: 206-464-3103 or firstname.lastname@example.org On Twitter @sbhatt