The Alleged $1.2 Billion Ponzi Scheme Sapping L.A.'s Trophy - WSJ sweeping lawns and magnificent shade trees from every room. After more than 20 years of Owlwood nesting, Aita finally sold the expanded compound in 2002 for somewhere around $33 million to Roland Arnall, the so-called subprime mortgage pioneer. The massive compound, accessed via its own privately gated street off of Sunset, consists of three separate but contiguous lots. Constructed in 1927, the 29-room, 22,000-square-foot Tudor . The storied Owlwood estate in Holmby Hills, home to celebrities and moguls over the years, is back on the market for $180 milliontwice the price it sold for less than a year ago. Keep your agency's branding consistent and stand out from the crowd by creating a custom floor plan to support your property listings. Send us a tip using our anonymous form. Still, no takers surfaced before the home was recently removed from the market. [10], In December 2017, the Securities and Exchange Commission filed suit against the Woodbridge Group of companies, which had bought Owlwood, and Bob Shapiro, alleging that Woodbridge and its associated companies operated as a Ponzi scheme. The current seller, the Woodbridge Liquidation Trust, would very much like to divest the massive spread and return some money to former Woodbridge investors. For the third time in as many years, the massive and massively idiosyncratic Los Angeles estate known as Owlwood has popped up for sale. Marilyn Monroe is said to have lived in 43 different homes, however she only bought one house in Los Angeles at 12305 Fifth Helena Drive. [11], "Holmby Hills' 'Owlwood' Estate Listed for $180 Million by Mercer Vine", "Owlwood Estate in Holmby Hills, Calif. on the Market for $150 Million", "Infamous Owlwood Estate Listed for $150 Million", "Big listings land in Los Angeles and Orange counties", FindAGrave: Florence Martha (Letts) Quinn, "L.A.'s Storied Owlwood Estate Sells to Developer for $90 Million", "Owlwood's $90-million sale continues spate of high-end transactions in L.A.", "Storied Owlwood estate returns to market with a bang: $180 million", "SEC says L.A. developer who bought celebrity real estate ran $1 billion Ponzi scheme", https://en.wikipedia.org/w/index.php?title=Owlwood_Estate&oldid=1069893835, This page was last edited on 4 February 2022, at 16:26. Founded in 2021, Cinema Scholars is a movie site by movie fans, for movie fans. . Office floor plans. Its beautiful millwork finish and deep brown color provide a retro feel to the space. America's Best House Plans