Few bargains to be found at Denny Hecker auction
Minneapolis (AP) — Buyers hoping to get a cheap piece of former Twin Cities auto magnate Denny Hecker didn't find many bargains. Many of Hecker's possessions were auctioned off Wednesday in New Germany, with the proceeds going to his long list of creditors.
More than 1,200 people registered for a chance to bid on his pontoon boats, Jet Skis, snowmobiles and golf clubs. But the auction, and Hecker's name, drove prices up.
A pair of Vespa scooters worth an estimated $1,800 each sold for $2,700 apiece. A Crestliner pontoon valued at $5,000 went for $8,900.
The 57-year-old Hecker is being investigated for credit and bankruptcy fraud and money laundering. He has not been charged with a crime and has denied any wrongdoing.
He is reportedly $767 million in debt. ---
Information from: St. Paul Pioneer Press