Incarcerated Finance Magnate Cushnie Unloads Nassau Street Condo for $1.3 M.

transfers 150nassau2v Incarcerated Finance Magnate Cushnie Unloads Nassau Street Condo for $1.3 M.In July 2003, a colleague of the prominent Jamaican-born British multimillionaire Carl Cushnie made a secret plea deal that exposed “a story of massive fraud” at Mr. Cushnie’s Versailles finance group. By June of 2004, Mr. Cushnie was sentenced to a six-year jail term.

But before that trial began, he and his daughter Carly paid $1,140,440 for an 18th-floor, 1,305-square-foot loft at 150 Nassau Street, one of New York’s first steel-frame skyscrapers.

But just as Mr. Cushnie lost his villa near St. Tropez last year, as a part of one of England’s biggest criminal confiscations ever, this downtown condo has been sold. According to city records, two buyers named Farmand Vosoghi and Saghi Mostofi paid $1.325 million this month for the Cushnies’ two-bedroom apartment. The deed doesn’t show any connection between this sale and the British confiscation.

“He’s in prison? He went to jail?” said Prudential Douglas Elliman listing broker Avi Voda, when asked about the incarcerated seller. He said he had worked for his daughter Carly, a burgeoning fashion designer—whose work in a BFA show this year was praised by Teen Vogue and WWD.

“With her mile-long legs and flawless skin, Cushnie, 23, could easily be mistaken for a model,” that WWD profile said.

Mr. Voda said her apartment was full of fashion: “You know, things that she’s designing that she’s working on. Like a sewing machine, she had a lot of stuff inside the apartment … all these kinds of materials and sketches.”

Maybe it’s because the apartment basically belonged to his daughter that it wasn’t included in The Evening Standard’s list of properties Mr. Cushnie bought with bad money. Besides the villa, the Cushnies’ homes in London and an apartment in Paris were named in an article titled “The Rise and Fall of the Black Howard Hughes.”

The condo on Nassau Street, according to Mr. Voda’s listing, was a “meticulously customized” two-bedroom, with a stone fireplace, marble-and-steel kitchen and teakwood-accented bathroom.

Ms. Cushnie did not reply to an interview request sent through her broker. But the family’s villa was a much bigger deal: The place, which used to belong to Elton John’s ex-partner John Reid, sold for around 10 million pounds.