More Of Former Central Texas Billionaire’s Property Auctioned

More of the property of former Central Texas financier R. Allen Stanford has gone on the auction block.

R. Allen Stanford (File)

HOUSTON (October 7, 2012)--Buyers perused tables of guns and jewelry and peeked at antiques during the third and final court-ordered auction of the belongings of former Central Texas billionaire R. Allen Stanford.

Most of the latest batch of Stanford positions on sale came from his home in Saint Croix.

Stanford is serving a 110-year prison sentence for defrauding investors out of more than $7 billion.

The proceeds from Saturday's auction in northeastern Houston go toward those he swindled.

Bidder Marvin Bennett came to stock up on office furniture and called what he found "a great buy."

The previous auctions generated about $267,000.

That's a fraction of the $220 million recovered in real estate, stock and other asset sales previously.

There was no immediate word on Saturday's haul.

Stanford is a Mexia native, Baylor University graduate and former Waco businessman.

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