Miss Pennsylvania and beverage mogul sell Admirals Cove home for $10M

SEC charged seller Raj Beri in fraud scheme in September

Raj and Elizabeth Cardillo-Beri along with 114 Quayside Drive in Jupiter (Getty, Google Maps, Instagram)
Raj and Elizabeth Cardillo-Beri along with 114 Quayside Drive in Jupiter (Getty, Google Maps, Instagram)

A former beauty queen and her beverage mogul husband sold their newly completed waterfront Admirals Cove mansion in Jupiter for $9.9 million, following civil fraud charges. 

Records show Beri Investments 114 Quayside LLC, a Florida entity managed by Elizabeth Beri, sold the house at 114 Quayside Drive to Steven and Karen Rooney. Steven Rooney is the owner of Precision Pipeline, an Eau Claire, Wisconsin-based company that builds oil and gas pipelines.

Rob Thomson of Waterfront Properties and Club Communities represented both the buyers and the seller in the deal.

Beri, formerly Elizabeth Cardillo, was Miss Pennsylvania 2015. The beauty queen married Raj Beri in Las Vegas in 2019, Wedding Style Magazine reported. 

Raj Beri is the founder of Sway Energy Corporation, formerly Elegance Brands. The Los Angeles-based company produces Sway, an energy drink, and VOCO, a canned vodka cocktail. 

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The Securities and Exchange Commission slapped Raj Beri with fraud charges in September. The agency alleged that he helped fraudulently promote securities offerings, including those of Venice, California-based cannabis company High Times Holdings, according to a press release.

In a settlement with the SEC, Beri agreed to a 10-year ban from serving as an officer or director of a publicly traded company. He and his company and other conspirators identified by the SEC are paying a combined $2.5 million fine in the settlement, according to the SEC press release.

Records show the Beris bought the waterfront 0.5-acre Admirals Cove home property for $2.4 million in 2020. They completed construction of the 7,800-square-foot, five-bedroom, six-bathroom house last year, property records show. The home also includes three half-bathrooms, an elevator, a 2,000-bottle wine room, a pool and a private dock. 

Northern Palm Beach County private club communities have thrived on the luxury market since the pandemic triggered a real estate boom in South Florida. Boating oriented Admirals Cove has particularly attracted big-name buyers and titans of industry.

Donald Trump, Jr. and his now-fiancée Kimberly Guilfoyle bought a waterfront mansion in Admirals Cove for $9.7 million in 2021. 

In December, retired aviation chief Sonny Berry sold his waterfront Admirals Cove home for $11 million. In October, a real estate services CEO bought a waterfront house for $8.5 million. Ronald Clarke, the billionaire CEO of FleetCor bought a second waterfront mansion in the community for $15.7 million in September.  

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