A South Florida telemarketer’s $20 million fraud bought Rolexes, a 1963 Mercedes, prison [Miami Herald] – InsuranceNewsNet

For four years, Delray Beach’s Marc Sporn spun the millions streaming to him from his Medicare fraud into ostentatious personal screams of wealth from the classic (1965 Porsche, 2014 Bentley, 1963 Mercedes) to the ostentatious (a $49,500 ladies diamond tennis bracelet, a $92,000 diamond necklace).

Starting in January, Sporn will spin in place, that place being federal prison after his sentencing to 14 years for attempt and conspiracy to commit mail fraud and attempt to evade and defeat income tax. Sporn, 59, also owes $24,045,779 total restitution, $4,212,850 of which will be to the IRS. Sporn dodged paying taxes for the years 2000, 2002-2011, 2014 and 2015.

The watches, the cars, the jewelry bought by fraud

To help satisfy the restitution, a sell off is in progress of the goods Sporn bought with his scheme. Court documents say he’s already sold a 2020 Bentley convertible for $130,889.

A list of his purchases included with his guilty plea and how much Sporn paid for them:

18-karat gold Rolex men’s watch, $8,800;

ladies’ diamond tennis bracelet, $49,500;

diamond 18-karat men’s gold Rolex watch, $26,750;

Audemans Piguet Royal Oak Offshore Alinghi watch, $16,000;

20-karat diamond necklace, $20,000;

custom 48-karat diamond necklace, $33,000;

custom emerald cut, 48-carat diamond necklace, $92,000;

men’s Rolex Masterpiece, $45,000;

Patek Philippe watch, $36,850;

33.75-karat diamond tennis necklace, $40,000;

Rolex Yachtsmaster 18-karat men’s gold watch, $25,999;

Patek Philippe Aquanut 5088 men’s watch, $35,000;

Patek Philippe 5950 men’s watch, $42,500;

1965 Porsche, $74,000;

2014 Mercedes G class, $135,680;

1971 Mercedes 280SL, $65,000;

2014 Bentley Flying Spur, $195,000;

1963 Mercedes 190SL bought and restored for $102,000;

27-foot Leopard Motoryacht named “MYTouchstone,” EUR680,000 (about $804,440 at the average 2021 exchange rate) in Monaco;

102-foot Leopard Motoryacht named “MY RG 512,” EUR1,370,000 (about $1,620,710) in Luxembourg.

Sporn also spent $35,000…