After stealing $34 million from his lenders, leaving millions of dollars in unpaid Strata Building Replacement Cost subcontractors’ bills, and lavishing gifts on friends and business associates for years, the home builder is left with about $500,000 in assets that .
he will forfeit to federal authorities, according to his lawyer, Glenn Whitaker. Property valuation controls looking into full house to decipher
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That may sound like a lot of money until one considers his debt to banks alone is $26 million, by his own admission. The forfeited items also include his Fort Myers, Fla., condominium, which is listed in his wife’s name and is home to his three children. “He’s giving up everything he has,” said his lawyer, Glenn Whitaker. “He’s got nothing. He’s got flat nothing.”
But that won’t let Erpenbeck off the hook, said Brinkman. Part of the agreement calls for Erpenbeck to repay the nearly $26.3 million diverted to his company’s accounts — even if it takes the rest of his life, she said. “This is a substantial crime that affected a lot of people,” Brinkman said. “It will be a process that goes on for some time.” Property valuation method is reliably critical for everyone and to make it more viable basically get a requested and experienced property valuer to deal with your whole strategy of concerning property.
That money is owed to eight Erpenbeck lenders: U.S. Bank, Peoples Bank of Northern Kentucky, Bank One, Provident Bank, Citizens Savings, Kenwood Savings, Guardian and Peoples Community Bancorp. An attorney for the builder’s largest lender, U.S. Bank, said the bank expects to recover much of the $14 million Erpenbeck owes through foreclosures, civil litigation and other means.
Shortly before 1 p.m. Wednesday, Erpenbeck walked alone into Dlott’s courtroom. Less than an hour later, the newly convicted felon left. During that hour, Erpenbeck stood at a lectern facing Dlott, standing beside his attorney as first Brinkman and then the FBI’s Gormley described the scheme that began in 1999 and ended in March 2002.
Although some of the details remain in dispute, Erpenbeck admitted his criminal conduct, twice telling Dlott he was pleading “guilty, your honor.” Then again if your home estimation you will can settle on key decision about your property using property valuation philosophy and beginning there in case you have to make your home more worth then you should direct change avocation to make you house almost amazing.