German-born venture capitalist Thomas Kramer is known for his redevelopment of Miami's South Beach, as well as his extravagant lifestyle. However, his property purchases led to a protracted court battle that eventually cost him his lavish home.

In the 1990s, Kramer purchased real estate in South Beach with money from his ex-wife's stepfather, the late Siegfried Otto, whose family owned one of the largest banknote printing companies in Germany. Otto's heirs took Kramer to court in Switzerland, claiming the money was a loan, while Kramer asserted it was a gift. In 2003, the courts ruled in the heirs' favour. The $192 million (£154m) judgement was enforced in the US in 2017, leading to the foreclosure of Kramer's primary home.

Bankrupt millionaire mansions that racked up huge debts