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On September 24, 2008, federal investigators raided the Petters headquarters in Minnetonka and searched Tom Petters' Wayzata home. Documents released by the FBI, IRS , and other federal agencies noted that they were seeking evidence of a scheme to lure investors into funding a company based on tens of millions of dollars in purchases and sales ...
Bid4Assets, established in 1999, was the first online real estate auction website to operate in the United States. [1] [2] The company auctions distressed real estate and personal property for private investors and federal and local government. [3]
The auction was scheduled to be held on Thursday June 24, 2010 at the offices of Baker Botts, L.L.P. in One Shell Plaza in Downtown Houston. [42] The auction was canceled due to a lack of bids, and Black Forest's stipulated that it would acquire the building for $12.2 million. [39] Black Forest bought the 5050 Westheimer building in July 2010. [43]
Tax sale: seized assets; Court auction: items sold to satisfy a court judgment, like storage contents of not-paying tenants; Insolvent companies where the government is the liquidator (e.g. official receiver) Unowned property; Often goods sold at government auctions will be unreserved, meaning that they will be sold to the highest bidder at the ...
On April 8, 2010, Thomas J. Petters was sentenced to 50 years in federal prison for all counts related to running the Ponzi scheme. [ 7 ] In early November 2010, the Hennepin County attorney's office filed drug possession charges against former Petters Group General Counsel David Baer, based on a safe full of illegal drugs under his office desk ...
A mock auction is a scam usually operated in a street market, disposal sale or similar environment, where cheap and low quality goods are sold at high prices by a team of confidence tricksters. History
The Ponzi scheme operated from at least February 1995. Up to 80 investors are involved. Civil charges were filed in federal court in Philadelphia on January 7, 2009 by the Commodity Futures Trading Commission with the help of the Securities and Exchange Commission. [3] [4] Forte's assets were frozen by the court.
A federal court has frozen the bank accounts of Jeremy Johnson and his associates, along with 61 phony companies the Federal Trade Commission says bilked people out of more than $275 million with ...