Rivas tract goes to auction

One of the last assets of swindler Luis Rivas will go up for auction Saturday.

Marcus Gravitt, owner of Gravitt Auctions and Appraisals, said the property is an undeveloped lot at 7281 Claudes Creek Drive in the Hampton Creek subdivision.

In November 2009, Rivas was sentenced by U.S. District Judge Curtis L. Collier to a maximum of 293 months -- about 24.4 years -- after his guilty plea.

Rivas, a foreign currencies trader, admitted to bilking clients out of at least $18 million with a classic Ponzi scheme.

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