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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1 comment:

  1. TanbinApril 12, 2025 at 9:51 PM

    This update was a fascinating look into the intersection of luxury real estate and high-profile financial scandal. It’s always intriguing to see how lavish properties become part of the broader narrative in cases like Darren Berg’s. The scale and style of his former estate really reflect the opulence associated with that era of excess—and now, its fate adds another chapter to the story. Your coverage provides both the architectural highlights and the legal drama, making for a compelling read. Properties of this magnitude often need a skilled touch when transitioning to new ownership. For anyone looking to restore or reinvent such high-end homes while preserving their elegance, R for Remodelers offers expert renovation services that marry luxury with livability. Thanks for continuing to track this saga—can’t wait to see what happens next!

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