Auction aims to get money back for investors - KCBD NewsChannel 11 Lubbock

5/30/09

Auction aims to get money back for investors

Posted:

LUBBOCK, TX (KCBD) - A massive auction in Dawson County Saturday aimed to get money back to defrauded investors.

The Securities and Exchange Commission filed a complaint against 46-year-old Rod Stringer in January. He's accused of running an ongoing, fraudulent investment scheme and misappropriating millions of dollars from investors.

Saturday, Great American Auction group auctioned off Stringer's real estate, vehicles, and more for the court receiver. That included his office and other properties in Lamesa, Texas and his home outside Klondike, Texas.

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1/21/09
Authorities Ask Court to Freeze Stringer Assets
Federal investigators asked the court to freeze the assets of a Lamesa man following the filing of a SEC complaint.