Helmut Kiener, the K1 Group hedge- fund founder under arrest in Germany on suspicion of fraud, is seeking to sell his oceanfront home in Delray Beach, Florida, for US$23 million to repay investors, people briefed on the matter said.
Kiener owns the 14,000 square-foot house through Miami-based Consistent Income LLC, whose managing member is Stefan Seuss, the people said, speaking anonymously because the probe isn’t complete. Seuss was arrested in Miami this week in a Federal Bureau of Investigation money-laundering sting and is tied to an international probe of Kiener, people familiar with the matter have said. A Cayman Islands’ liquidator is selling the property, said the people, who declined to provide details about the investors.
‘They are not going to get US$23 million,’ said Sandra Strickland, an independent realtor in Delray Beach, about 80 kilometres north of Miami, as she stood outside the house last week.
‘Right now, we are mostly flooded with US$200,000 and under properties,’ said Ms Strickland, who estimated it’s worth about US$12 million.
The three-story Georgian-style home, put on sale in May, features several chandeliers, including one above an oval bath tub, a two-story wood-panelled library and ‘exotic marble and onyx throughout’, according to the home’s listing on the website of Premier Estate Properties. The master bedroom occupies a wing of the first of three floors. Continue reading
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