Kris Roglieri’s Asset Liquidation Yields Minimal Recovery
July 25, 2025
Bob Coleman
Founder & Publisher
Fraud Friday: Kris Roglieri’s Asset Liquidation Yields Minimal Recovery
Kris Roglieri remains in jail following his May 2024 arrest on fraud charges and allegations of threatening FBI agents. His bond was revoked, and after moving through several attorneys, he’s now represented by public defenders. The court has set a firm trial date for January 2026, with no further delays.
As legal proceedings advance, attention has shifted to the liquidation of Roglieri’s assets and what those assets actually returned once sold.
Roglieri was known for his high-end lifestyle, which included luxury vehicles and an extensive art collection. One of his Ferraris was recorded speeding over 160 mph on an interstate near Albany. That car, along with others and a large trove of artwork, was sold off by the court-appointed receiver.
The art was eclectic, much of it gangster-themed, including an Andy Warhol screen print of John Gotti that sold for $16,000. Several other pieces were auctioned at surprisingly low prices:
- Archangel Michael (17th-century Roman): $800
- 19th-century English landscape: $350
- Total from artwork and collectibles (with buyer premium): $139,000
The Saratoga Automobile Museum handled the auction of Roglieri’s vehicles, artwork, and statuary. The auction brought in $144,000, but expenses quickly consumed a large portion of that total:
- Buyer’s premium: $11,000
- Sales tax: $7,000
- Auctioneer commission: $11,000
- Out-of-pocket expenses: $39,000 (marketing, appraisal, storage, ballroom rental)
In total, roughly 40% of proceeds were lost to transaction costs, sharply reducing the recovery available to the trustee.
One of Roglieri’s most valuable assets, a 14-acre estate outside Albany, was also put up for sale. The 10,000-square-foot Tudor-style home, described by the Albany Times Union as a “mansion,” sold for $1.6 million. But like the rest of the asset pool, liens and fees left little behind:
- 1st lien: $632,000
- 2nd lien: $341,000
- Back taxes and penalties: $320,000
- Homestead exemption: $89,975
- Net to trustee (before other fees): $217,000
The homestead exemption allowed under law to provide some value to displaced homeowners will likely be contested in court. Additional real estate fees and costs will further shrink the trustee’s final take.
All asset sales are part of an involuntary bankruptcy proceeding tied to Roglieri’s company, Prime Capital, which is accused of orchestrating an $80 million fraud scheme. The trustee is pursuing both personal and business assets to compensate victims and creditors. Despite the sales, none of the proceeds have been used for Roglieri’s defense.
There is growing speculation that co-conspirators may be cooperating with prosecutors. Recent indictments indicate that additional pressure is building ahead of trial.