Yacht and Jet on Auction Block this Week

The feds will be selling off some luxury property of Shreveport businessman David deBerardinis. He's accused of defrauding clients out of money in an alleged ponzi scheme.

Though he's not been convicted, the government is still moving forward to sell off his private jet and a yacht he owned. The government claims he bought the big ticket items with money him made in the suspected fraud scheme.

The government has been confiscating deBerardinis' property in an effort to sell the items to pay back some of his alleged victims.

deBerardinis has denied committing any crimes. But that won't stop this latest auction which will run from May 16-23.

What items are up for grabs? A 1982 British Aerospace Hawker that can accomodate 12 passengers. It's believed to be in good condition.

The boat is 50 feet and is being housed in Texas. Auction information says the yacht does have some engine problems and water damage to the interior.

Click here to find out more about the auction.

deBerardinis is awaiting trial on the federal charges. He has pleaded not guilty to charges of defrauding $96 million from his investors. Prosecutors believe deBerardinis used much of the money for his own personal use.