By James Clark | email
LUBBOCK, TX (KCBD) - The dismantling of Benny Judah's former business empire continues. Judah is serving 25 years of federal prison time after pleading guilty to charges of money laundering and the sale of unregistered securities. In simple terms he admits bilking investors, mostly from Lubbock, in a Ponzi Scheme.
Judah's many Lubbock businesses and properties are being sold in an attempt to at least partially reimburse the investors. On Tuesday court-appointed Receivership Trustee requested a judge's permission use 4703 112 Street as the site for two auctions.
The Receiver seized Judah's properties in April 2009 and will hold two auctions this month. The first is Saturday July 17 at 10:00 a.m. wherein office furniture, equipment, artwork, jewelry and guns will be sold. The Receiver's website says there are no minimum bids for the items.
The second auction will Friday July 23, 2010 at 2:00 p.m. The Falls Tennis & Athletic Club is one of the items up for bid, which includes the fitness and tennis club business operations along with the real estate. Also up for bid are the Excel company office and the real estate location for Las Brisas Southwest Steakhouse. Las Brisas business operations are being sold separately with an asking price of $1,088,333.00.
Links to the Receiver's web site and the auction website are below:
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