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Raleigh banker's assets to go on auction block

Posted October 27, 2009
Updated October 28, 2009

Cars, wine, art and jewels will go on the auction block in an attempt to recover assets for investors who lost money in an alleged Ponzi scheme.

William Wise, 58, operated Millennium Bank, which he billed as a St. Vincent-based unit of a Swiss bank, from an office on Falls of Neuse Road in Raleigh.

The Securities Exchange Commission sued Wise and others in March, alleging that the bank was a front for a Ponzi scheme that has stolen more than $68 million from 375 investors, including at least 12 in North Carolina.

No criminal charges have been filed in the case, but courts have frozen Wise's assets so they can be auctioned off to repay investors.

Iron Horse Auction Company, Inc. of Rockingham, and Leland Little Auction & Estate Sales, Ltd. of Hillsborough, will conduct the auction Nov. 18 at 1 p.m. at the North Raleigh Hilton. Bidders can attend in person or bid in real time via the Internet.


Tonight at 6 On WRAL-TV: Wise's assets for auction

 

5 Comments

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  • WRALblows Oct 27, 2009

    Who would trust their money to a guy with a hair piece that bad?

  • gingerlynn Oct 27, 2009

    He was wise enough to move his mansion into his wife's name and then sell it in August. Wonder if they can touch "her" money?

    3704 Camp Mangum Wynd Raleigh NC

    http://services.wakegov.com/realestate/Deeds.asp?id=0244104&stype=addr&stnum=3704&stname=CAMP+MANGUM&locidList=&spg=1&cd=01&loc=3704++CAMP+MANGUM+WYND&des=LO21+OLDE+RALEIGH+SUB+PH3+BM1998%2D750&pin=0785569692&page=1

  • tsquaring Oct 27, 2009

    Kind of neat the way they put the link to the auction site in the article.

  • 6079 SMITH W Oct 27, 2009

    No criminal charges?.....none?

  • liskm Oct 27, 2009

    I can hardly feel sorry for some of these people taken in by these Ponzi king schemes. They are on the greed trail just as fast and furious as the one they are taken in by.