Government may drop claim against troubled Versace mansion

TRD MIAMI /
Aug.August 02, 2011 01:45 PM

The U.S. government filed papers Monday admitting its claim against the Versace mansion in Miami Beach is worthless, the South Florida Business Journal reported. Federal prosecutors have been pursuing a claim against the mansion because they say Ponzi-schemer Scott Rothstein invested in its former owner Casa Casuarina.

His restaurant operation, Bova, briefly ran Casa Casuarina in an effort to revive the finances at the troubled former Versace mansion. Owner Peter Loftin dismissed the Rothstein team after investigators accused the Broward lawyer of the scandal.

“The United States … found that the market value of the Versace Mansion Assets is substantially below the amount due to secured lenders, holders of junior liens and creditor interests, including, but not limited to, taxing authorities, vendors and other parties, thereby rendering the government’s interest worthless,” a motion filed by prosecutors said.

The mansion is currently owned by former telecom tycoon Peter Loftin and operated as Villa By Barton G, a a boutique hotel.

Italian designer Gianni Versace was fatally shot on the steps of the mansion in 1997. [SFBJ]


Related Articles

arrow_forward_ios
Rick Pitino and 38 Indian Creek Island Road (Credit: Luxhunters, Panagiotis Moschandreou/Euroleague Basketball via Getty Images)

Basketball coach Rick Pitino sells Indian Creek waterfront mansion

Basketball coach Rick Pitino sells Indian Creek waterfront mansion
249 West Alexander Palm Road and Kimberly Vassalluzzo

Fund manager’s wife buys Boca Raton mansion for $13M

Fund manager’s wife buys Boca Raton mansion for $13M
Jeffrey Epstein (Credit: Daily Beast | Getty)

The feds are in no apparent rush to seize Jeffrey Epstein’s Palm Beach mansion

The feds are in no apparent rush to seize Jeffrey Epstein’s Palm Beach mansion
The late George Steinbrenner’s mansion in South Tampa hits the market

The late George Steinbrenner’s mansion in South Tampa hits the market

The late George Steinbrenner’s mansion in South Tampa hits the market
(Credit: Coldwell Banker, iStock)

Pancake power: Heir of IHOP founder lists Southwest Ranches mansion for $7.25M

Pancake power: Heir of IHOP founder lists Southwest Ranches mansion for $7.25M
Overtime: Shaquille O’Neal re-lists Orlando-area mansion with 21% price cut

Overtime: Shaquille O’Neal re-lists Orlando-area mansion with 21% price cut

Overtime: Shaquille O’Neal re-lists Orlando-area mansion with 21% price cut
Naples mansion that sold for $48.8M is demolished to make way for a new one

Naples mansion that sold for $48.8M is demolished to make way for a new one

Naples mansion that sold for $48.8M is demolished to make way for a new one
The week in luxury: A map of Miami-Dade’s priciest condo sales

The week in luxury: A map of Miami-Dade’s priciest condo sales

The week in luxury: A map of Miami-Dade’s priciest condo sales
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...