Judah $1 Million home liquidated for $850,000 - KCBD NewsChannel 11 Lubbock

12/6/09

Judah $1 Million home liquidated for $850,000

LUBBOCK, TX (KCBD) -Convicted Lubbock businessman Benny Judah has already lost his freedom.  Now he's also losing his house.  Judah is accused of running a $50 million Ponzi scheme.  His 300 or more investors are primarily from Lubbock. 

A Receivership Trustee has taken control of Judah's assets and is liquidating them in an attempt to recover at least some of the lost money.  That includes Judah's house at 4701 111th street. 

The house is appraised at more than $1 million.  However, the Receiver is asking a judge's permission to sell the house and furniture for a total of $850,000. 

The Receiver has a list of reasons for selling the home for less than appraised value.  Taxes and maintenance top the list. However, anyone wishing to make a higher bid may do so until 5:00 PM, December 21st.  (CLICK HERE) to learn more about the Receivership.

©2009 KCBD NewsChannel 11. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Powered by Frankly