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NEW YORK CITY-Ponzi schemer James Nicholson's Manhattancondominium, the Time Warner Center-Unit ST-52A, has been sold bythe federal government to Lucky Charming Chad LLC for $6.75million.

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Before his arrest in February 2009, Nicholson had purchased theColumbus Circle unit in May 2008 for $8.5 million. The sale of theColumbus Circle unit is perceived as another sign of the decline ofresidential real estate property as a result of the recession.For the full story, go to Bergen Record.


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