“Ironically, Ingersoll has reported to the court that he owes $3.5 million more than he is worth, and does so without acknowledging his indebtedness to GTA in a comparable amount.”
September 21, 2015
Government's Supplemental Brief
If members of the collective folly known as the Grand Traverse Academy's Board of Directors (past and present) ever wonder where the money went, then they may want to head down to Palm Beach County.
Specifically, Boca Raton.
In a supplemental brief filed yesterday (September 21, 2015), government prosecutors asserted that Steven Ingersoll “may have interests in real property that he has not reported to his probation officer and the court. It appears that some of those properties may be in Bay County, Michigan.” (Ingersoll is facing a September 24 presentence motion hearing.)
But here's the shocker: “At least one real property interest in Boca Raton, Florida appears to be unreported by Ingersoll.”
What, only one?
The supplemental brief was filed yesterday in support of motion for order requiring Ingersoll to provide complete and accurate financial information for his presentence report. On June 19, 2015, the government filed a motion asking the court to require Steven Ingersoll to provide complete and accurate financial information for inclusion in his presentence report. That information is to be used by the court in fashioning the financial component of Ingersoll’s sentences.
And if you guessed that the convicted felon would attempt some low-rent monkey business, you'd be right!
In its brief, the government stated “Ingersoll apparently has not given any information regarding the value of his many business concerns, including but hardly limited to his interests in Smart Schools Incorporated (SSI), Smart Schools Management (SSM), Smart Schools Bay City (SSBC), his “bed and breakfast” operations (other than the real property values of those enterprises), his intellectual property, his optometric practice, and a long list of limited liability corporations or LLCs.”
According to the government, an incomplete list of Ingersoll’s LLCs includes: Lind Studios, LLC; Arts District, LLC; Stertz Tower, LLC; Wolverine Arts, LLC; Sanford Green House, LLC; Oddfellows, LLC; Perry House, LLC; Madison Arts, LLC; 606 Grant Street, LLC; 616 Grant Street, LLC; 620 Grant Street, LLC; Webster House B & B, LLC; 909 Sixth Street, LLC; Keith House, LLC; Old Y, LLC; Bay City Renaissance, LLC; Banks Front Door, LLC; Farragut Schoolhouse, LLC; and 1515 Sixth Street, LLC.
[NOTE: It appears 'Stertz Tower LLC' is not an Ingersoll entity, but 'Swarts Tower, LLC', is controlled by Steven Ingersoll. Ingersoll filed a “certificate of change of registered office and/or registered agent” with the State of Michigan on September 10, 2015 designating himself as registered agent and his 1514 Center Avenue home address as the entity's address. As you can see in the Bay County property records for 108 Linn Street, which Ingersoll sold to 'Stertz Tower LLC', it's confusing.
The government asserts that Ingersoll frequently uses LLCs to hold title to his real estate assets, and his practice of using LLCs makes it difficult to identity all of the real estate belonging to him.
In addition, the supplemental brief states that Ingersoll has claimed liabilities in the form of unidentified and undefined “business taxes due” of $74,000 and $156,000, or a total of $230,000 in business taxes. If Ingersoll has interests that give rise to business taxes totally more than a quarter of a million dollars, it is reasonable to require that the value of those business concerns be included in his list of assets.
Likewise, the government states, it is reasonable to require Ingersoll to disclose the income that he receives from those business concerns — like maybe the $300,000 'curriculum licensing payment' Ingersoll may still be getting from the Grand Traverse Academy via his business partner, Mark Noss, and Full Spectrum Management.
(That snapping sound you just heard is likely a group sphincter spasm from an as-yet covert bunch of Ingersoll business colleagues — you know they're out there!)
The prosecution has asked Judge Thomas L. Ludington to order Steven Ingersoll to provide complete and accurate financial information to his probation officer, including his assets, liabilities, and current household income and expenses. The government has ask that the order provide for sanctions, including but not limited to a revocation of Ingersoll’s bond, if Ingersoll fails to fully comply with the order by the date specified by the court.
For your review, Steven Ingersoll's financial information, as analyzed by the government: