For the first time, NewsChannel 11 takes you inside the three story house standing vacant and unfinished in the Rush neighborhood. The house was once owned by Jody Nelson, the man accused of stealing $78 million from his former employer, Patterson UTI, a Snyder based oil drilling company.
Nelson's house is for sale and it's estimated price is $2.5 million.
|Complete List of Nelson Auction Items|
"Jody's folly" actually started in 2002 when Mr. Nelson bought a house on this piece of property. He had it knocked down and built this thing. This beast is a 19,000 square foot cinder block house. Inside, it's even more extraordinary.
It has a steel staircase welded together. It also has a walk in sauna. The house is trimmed with mahogany wood. The house is three stories, with a racquet ball court below the basement. The basement consists of a viewing or entertainment room, decked out with molding.
Lubbock attorney Richard Hubbert gave us the tour. His law partner, Robert Wilson, is out of town. Mr. Wilson is the receiver handling all of Jody Nelson's assets and estates bought with stolen money.
Hubbert says Nelson has put $4 million into this house. "What will happen if it doesn't sell?" asked NewsChannel 11. "I don't know. I'm not sure what deposition we'll make of it. But I'm sure somebody will buy it for something. That would be a question we haven't had to address yet," said Hubbert.
Whoever buys this house will have two swimming pools in the backyard along with a Jacuzzi tub. But Hubbert says whoever buys this house will also have to dish out another $1 million to complete the house.
Hubbert says they have an local interested buyer, but nothing confirmed. Meanwhile, this house along with several other real estate will be for sale through an auction. That will be held in August.
|Courts & Crime|