$38 Million Insurance-Fraud Auction Includes Hundreds Of Designer Shoes

Michael Petronella and Devon Kile seemed to have it all — until they didn’t.

The California couple is at the center of a $38 million insurance fraud. The duo, owners of a roofing-and-contracting business, were convicted of more than 100 felony counts of insurance fraud, tax charges and other white-collar crimes. Petronella has been sentenced to 10 years in jail, while is wife received 10 years’ probation. Together they owe $4 million in restitution and fines.

Clearly, the couple had expensive tastes. Three hundred items formerly owned by the couple will be up for auction by Tranzon Asset Strategies and Tiger Capital Group on Oct. 8, at the Wyndham Hotel in Irvine, Calif. Online bidding is also available.

What’s up for auction? Kile’s designer apparel, accessories and shoes are all on the block — and many of the items are unworn, with price tags still attached.

If you’re a size 37 or 38, you’re in luck. Shoe highlights include a pair of black patent leather Prada booties, Christian Louboutin fringe boots and a pair of Paul & Joe knee-high metallic gold boots.

Christian Louboutin Designer Shoes Auction
The Christian Louboutin black fringe boots that will be auctioned on Oct. 8.
CREDIT: Courtesy of Proxibid.

“This sale represents a tremendous opportunity for fashionistas and others interested in high-end jewelry, designer handbags and shoes and vintage fashion,” said Tranzon Vice President Tiffeny Cook.

Click through the gallery to see some of the shoes that are up for bidding.

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