View of Mercer Island North End
Berg’s Former Home
The Seattle Times and Puget Sound Business Journal reported Darren Berg’s Mercer Island north end waterfront mansion is being sold for $5.9 million by a U.S bankruptcy court. The house is not included in Lake Washington 130 Homes. It is located between the homes on pages 42 and 43 and near the Roanoke Inn.
The purchaser is Robert M. Harris Jr., the founder and CEO of Seattle based Pacific Market International. The company manufactures and sells food and beverage containers.
Berg is accused of running a massive Ponzi scheme. His company, Seattle based Meridian Group, raised over $280 million from investors over the last ten years. The money was reported as being invested in real estate investment funds. Berg is charged with wire fraud, money laundering, and bankruptcy fraud. Meridian filed for bankruptcy and Berg filed for personal bankruptcy in July 2010.
The home has 5,400 sq ft with 112 feet of waterfront. Berg paid $5.5 million in 2007 for the property and spent over $3 million in a two year make-over. The property was listed for $8.2 million in September 2010.
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