Insurance regulators will be auctioning off on eBay four pieces of jewelry that were recovered in connection with the Martin Frankel insurance fraud case.
The auction, announced by Mississippi Insurance Commissioner George Dale, began Oct. 22 and will last seven days.
In 1999, Martin Frankel defrauded seven life insurance companies of more than $200 million through the theft of investment assets. The jewelry was purchased by one of Mr. Frankel's co-conspirators who worked out of Mr. Frankel's Greenwich, Conn., mansion.
Mr. Frankel is currently serving time in federal prison.
Regulators in Mississippi, along with Arkansas, Missouri, Oklahoma and Tennessee, are acting as receivers for seven defrauded insurers.
The regulators are auctioning off a diamond necklace valued at $7,500; a pair of earrings valued at $4,600; a ladies ring valued at $8,000; and ladies watch valued at $4,000.
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