Helmut Kiener, the accused fraudster and founder of fund of hedge funds K1 Group, is trying to offload a mansion he owns through a company headed by an accused co-conspirator.

Kiener’s Delray Beach, Fla., home has been listed for $23 million, Bloomberg News reports. The proceeds for the sale are expected to go towards repaying the psychologist-cum-hedge fund manager’s investors.

The 14,000-square-foot oceanfront villa is owned by Kiener through Consistent Income, a Miami-based company whose managing member, Stefan Seuss, was arrested in Miami last week on money-laundering charges reportedly linked to Kiener’s alleged fraud, which may have cost K1’s banks and brokers US$400 million. The house was put on the market in May and is being sold by a Cayman Islands liquidator. The property is a three-story affair, and despite such features as a chandelier over the bathtub, a two-story wood-paneled library and “exotic marble and onyx throughout,” a local real-estate broker says there’s no chance they’ll get the asking price.

“They are not going to get $23 million,” for the six-bedroom house, which Kiener bought two-and-a-half-years ago for $19 million,” Sandra Strickland told Bloomberg. She expects them to get roughly half the asking price.