GATLINBURG, Tenn. - A mountaintop mansion belonging to a convicted Ponzi schemer who is now in prison has been sold at auction for $1.93 million.
Gatlinburg real estate businessman Gary Spiezio won the foreclosure auction on Saturday at the Gatlinburg Convention Center. The home once belonged to Dennis Bolze, who was sentenced last year to more than 27 years in prison for seating $21 million from investors.
None of Bolze's victims, who were friends or members of the church he attended, benefit from the sale because they are unsecured creditors. Lienholder Regions Bank is owed about $5 million.
See Monday's Times Free Press for complete coverage.