The Mercer Island home of Frederick Darren Berg has been sold to a Seattle businessman for $5.925 million. The home was listed at $8.2 million, Sept. 17, with Coldwell Banker Bain Associates Wendy Lister and Terry Allen.

Berg pleaded not guilty in November to 12 federal criminal charges as a result of his failed Meridian Funds, which authorities believe was a huge Ponzi scheme.

Attorney Diana Carey with Karr, Tuttle and Campbell is the trustee for Berg’s personal assets, which included the home and about 20 various companies he owned. Berg filed for voluntary bankruptcy on July 27, she said.

“The house was a major asset,” Carey said. “It was listed at a higher price, but after talking to the creditors, they thought it was a fair price.”

She said the costs to keep the 5,400-square-foot home heated and maintained motivated the creditors to take the offer.

A spokesperson at Lister’s office said the home has 112 feet of frontage on Lake Washington, on a 20,719-square-foot lot. Berg had remodeled the home extensively, she said, with high-quality appointments and materials. The home has four bedrooms, six bathrooms, six fireplaces, a hot tub, wine cellar, a wet bar and much more.

The purchaser, Robert M. Harris Jr., is the founder and CEO of Pacific Market International, which manufactures, markets and designs innovative food and beverage items such as Stanley and Aladdin insulated containers.