Back in early October, a couple cats from Grand Blanc, Daniel Coffield and John Horwath, decided to go slumming in one of Bay City's seedier neighborhoods.
On October 5, the duo made an offer to purchase the seduced and abandoned (gutted to the studs) building shown in the photo above. Legally known as 909 Sixth Street, its owner Steven Ingersoll had listed the property with Bay City realtor Frank Janca. While the house hit the market in early September at $22,000, Steven Ingersoll later dropped the price to $18,000 before accepting $15,000 for the building from the Grand Blanc boys (who, oddly enough, have never purchased real estate in Bay County).
But here's the rub: on September 30, 2015, US District Judge Thomas L. Ludington issued an order enjoining Steven Ingersoll from disposing of properties without Ludington's permission. So on October 15, Ingersoll's attorney, Jan Geht, submitted a motion requesting that Judge Ludington approve the sale of 909 Sixth Street.
On October 29, government prosecutors filed a motion in opposition to Ingersoll's proposed sale. Pointing out that the “real property at 909 6th Street is ‘owned’ by 909 6th Street LLC, which is, in turn, one of the many entities owned by Steven Ingersoll”, the government revealed Chemical Bank holds a mortgage against 909 6th Street and other properties owned by Ingersoll.
In addition, the government asserted “Ingersoll did not provide any information in his motion regarding his intended disposition of the $15,000 sale proceeds. He did not disclose the extent and nature of other potential claimants to the sale proceeds, such as the amount that he intended to pay to the mortgage holder, the commission he owed to the real estate broker, and other obligations such as back taxes assessed against the property. Ingersoll also did not disclose the anticipated amount of the sale proceeds that would remain after those third party claims were satisfied, much less detail what he proposed to do with those sale proceeds.”
Judge Ludington issued an order late this afternoon directing Ingersoll to file a supplemental brief no later than November 25, 2015. In his supplemental brief, Ludington ordered Ingersoll to provide: (1) the date he originally purchased the property and the amount he purchased it for; (2) an explanation for the difference between the proposed sale price and the property’s assessed value for property taxes; and (3) whether, as he appears to suggest, all of the sale proceeds will be paid to the secured mortgage creditor.
The government must then file its response to Ingersoll's brief no later than December 2, 2015.
Ingersoll and his partner in crime, Roy C. Bradley, Sr., are scheduled to be sentenced on December 8 at 8:30am.
Mark that date on your calendar: “National Stick-A-Fork-In-It Day”.
Drop the mic, Drac!