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Ponzi-schemer’s old mansion sells at 40% discount

Beverly Hills property was modeled after Marie Antoinette’s private chateau

<em>2571 Wallingford Drive </em>
2571 Wallingford Drive

From the Los Angeles site: A Beverly Hills home modeled after Marie Antoinette’s private chateau in Versailles sold for $22 million earlier this month, down roughly 40 percent from its previous asking price of $37.5 million.

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Seller Jeoung Lee, a Korean healthcare entrepreneur who made her money in the nursing home business, purchased the property for just $16.75 million in 2007 from then-owner Curtis Somoza, a Ponzi schemer who was in prison on fraud charges. Before his incarceration, Somoza had commissioned large-scale renovations of the 22,000-square-foot, seven-bedroom manor.