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Chandelier Owned By Stanford Up For Auction

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(credit: Heritage Auctions)

(credit: Heritage Auctions)

DALLAS (AP) - A chandelier by glass artist Dale Chihuly that once belonged to former Texas tycoon R. Allen Stanford is to be sold at auction to raise money to help compensate victims of his Ponzi scheme.

The 7-foot tall, 6-foot wide chandelier of cascading blue glass will be sold Wednesday by Dallas-based Heritage Auctions. It’s estimated to fetch more than $60,000.

Stanford was convicted last year on 13 fraud-related counts and sentenced to 110 years in prison.

The chandelier is being offered through the federal court-appointed receivership overseeing the sale of assets previously owned by Stanford. The receivership also is auctioning a 42-foot-long sculpture by Terence Main called “Terrestrial Tale.” It’s expected to sell for more than $20,000.

Stanford’s assets have been sold at several auctions over the last few years.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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