The trappings of wealth accumulated by Unionville investment manager Tony Young, who was accused in April of a $23 million fraud that ensnared dozens in an area of Chester County known for old money and foxhunting, will be auctioned off by federal authorities tomorrow morning.

The sale of antique furniture, paintings, motorcycles, and horse trailers used to haul ponies to polo matches is expected to add to the millions a federal receiver is raising from Young's houses and other assets bought with investors' money.

The receiver, former federal judge Louis C. Bechtle, has been dismantling Young's lavish lifestyle since June. Besides a 57-acre Chester County property, Young had houses in Palm Beach, Fla., and in an area of Maine where the moneyed classes of Philadelphia have gone for generations to escape the summer heat.

In his first report to the U.S. District Court for the Eastern District of Pennsylvania, filed two weeks ago, Bechtle said he had gathered $237,833 from 10 bank accounts and $4.6 million from a brokerage account maintained by the Kennett Square investment fund known as Acorn II L.P.

Bechtle estimated the value of Young's houses and other property at $7.4 million. That number includes offers of $1.25 million for the house in Northeast Harbor, Maine, near Acadia National Park, and $3.5 million for the house and land in Chester County's West Marlborough Township.

That $12 million is far short of the amount lost by investors, estimated at $23 million by the Securities and Exchange Commission, which in April filed its civil complaint against Young and his firm. Young has not been charged in criminal court, though he has confessed to the fraud underlying the SEC's complaint.

To improve the chances that all investors get as much money back as possible, Bechtle plans to ask investors who took more money out of the fund than they put in to return the fictitious profits.

Court documents show that Young collected $86.7 million from 71 investors, who were attracted by supposedly outsize returns from the fund founded in 2001. Eighteen investors may have withdrawn, in aggregate, $8.7 million more than they put in.

Young's investors included W.B. Dixon Stroud Jr., whose family founded Chester County's Landhope Farms chain of convenience stores. The SEC lawsuit named Stroud as a relief defendant, which means that Stroud allegedly benefited from the fraud when he withdrew at least $7 million from the fund in 2008. Stroud said in his response to the complaint that any funds withdrawn in 2008 "constituted a proper and lawful partial return" of investment.

Young also involved another high-profile family. Stewart Strawbridge, son of Campbell Soup Co. heir George Strawbridge Jr., worked as an analyst at Acorn Management, according to public documents.

Bechtle is also trying to retrieve an unspecified amount of money from charities and political entities that received donations from Young.

Young's 21 horses and polo ponies were auctioned for $149,240 on Oct. 10.

Young, meanwhile, who told Fortune magazine that he was "very sorry about the investors who got hurt," is living in the Palm Beach house he purchased in April 2006 for $2.1 million in cash taken from investors, according to a court document.

Contact staff writer Harold Brubaker at 215-854-4651 or hbrubaker@phillynews.com.