CHARLOTTE, N.C. -- Items owned by a North Carolina company that bilked more than $600 million from investors in a Ponzi scheme are being auctioned to help a federal court-appointed receiver recoup some of the money.
Half of the items on next week's Rex Venture Group's auction list are country music memorabilia.
Paul Burks owned Rex Venture, which operated Lexington, N.C.-based online company ZeekRewards. The 66-year-old Burks was a former county music disc jockey and magician.
Federal investigators found the country music collection in 2012 after Burks' company was shut down. Burks was fined $4 million by federal regulators, but was not criminally charged.
Iron Horse Auction is handling the auction. Proceeds will be added to a fund for people who lost money in the scam.