Convicted Fraudster's Tulsa Mansion Goes On The Auction Block

Sunday, April 17th 2011, 7:30 pm
By: News On 6

Dan Bewley, News On 6

TULSA, Oklahoma -- A south Tulsa home built from the proceeds of a criminal enterprise goes up for auction this week. The home was formerly owned by a Tulsa attorney who's now in federal prison.

People lined up before the doors were open. Dozens of potential home buyers and just those who are curious - all to see this massive luxury estate at 107th and Lakewood.

It's a "French country masterpiece with over 13,000 square feet," according to the real estate company handling its sale. That's five bedrooms, with 10 bathrooms, a pool, tennis court - even a half-basketball court indoors.

"Yeah, it's really quite something," said Kelly Arrington of Williams and Williams Worldwide Real Estate Auction, the company is auctioning off the home later this week.

"It is truly spectacular in terms of attention to detail. The best of technology combined with the best of amenities, it is really quite a beautiful home," Arrington said.

The home was formerly owned by Tulsa attorney George David Gordon. He and four other men were arrested in 2009 for what's called a "pump and dump" scheme to the tune of $41 million.

Investigators say the men bought stocks in their publicly traded companies, inflated the price, then marketed the stock to other investors. When the stock reached the artificially high price, the men then sold their stock and made millions of dollars.

The other investors were left with a pile of worthless stock.

George David Gordon was convicted of securities and wire fraud, as well as money laundering last May. He's serving his sentence at a federal prison in Texas and is scheduled to be released in 2023.

Now the U.S. Marshals Service is putting his home on the auction block.

"I mean, the U.S. Marshals Service is a client of ours so we have auctioned other properties for them throughout the nation," said Kelly Arrington of Williams and Williams Worldwide Real Estate Auction.

Proceeds of the auction will go into a special fund that will then be used to compensate the victims who fell for Gordon's scheme. 

The auction takes place this Wednesday at 4 p.m. You can make your bid in person or online. Find out more about the seized property auction.