Semi-monthly news and updates about the homes, people, businesses and communities that are featured in Lake Washington 130 Homes. This covers the Lake Washington waterfront in Seattle’s Madison Park, Denny-Blaine and Madrona neighborhoods, Mercer Island, and The Eastside communities of Bellevue, Medina, Hunts Point and Yarrow Point.
(The above home belongs to Charles Simonyi. See 5/31/11 post.)

Sunday, May 22, 2011

Darren Berg Update 2

Berg’s Former Home and Yacht

The Seattle Times reported 3/25/11 Darren Berg’s (12/30/10 and 1/17/11 posts) creditors will probably recoup only 15 to 25 percent of their investments.  The article further reported the bankruptcy plan report stated Berg’s misappropriations started as early as 2001 but “the magnitude increased each year.”

Berg is charged in the biggest Ponzi scheme ever prosecuted in Washington state.  Through his company, Meridian Group, he is accused of defrauding hundreds, some of whom their life savings, of more than $280 million.

Berg’s Mercer Island north end waterfront mansion was sold for $5.9 million in January 2011 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.  It is one house southeast of a mansion that is listed for sale for $6.45 million.

The weather finally got nice enough to go out on the water and take pictures.  The two previous posts have been updated with pictures. (Updated 12/30/11)

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