Portion of Berlin Wall auctioned in Georgia

Portion of Berlin Wall auctioned in Georgia

May 25th, 2013 by Associated Press in Local - Breaking News

SUWANEE, Ga. - A piece of the Berlin Wall was auctioned off in metro Atlanta as part of an effort to pay back victims of an investment scheme.

Event spokeswoman Meredith Fletcher says proceeds from the sale will repay 57 victims of a $7.3 million Ponzi scheme in metro Atlanta.

The item was sold at Saturday's auction for $23,500. The buyer was Ray Stanjevich, a Serbian immigrant who owns three Friends American Grill restaurants.

WSB Radio reported the 12-foot, 8,000-pound chunk of wall ended up in the hands of an investment company that authorities say bought it with money bilked from dozens of investors. The concrete slab was seized as an asset by federal authorities.

The piece is currently being displayed in front of Suwanee City Hall.