U.S. Marshals Service to auction 24-unit apartment building forfeited from work-at-home scam artist
May 29, 2009 – Silver Spring, MD, Bid4Assets, Inc., (www.bid4assets.com), an online real estate auction company, announced today that it will auction a 24-unit apartment building for the U.S. Marshals Service. The building, located in East Cleveland, OH has recently been renovated and is a turn-key investment for multi-unit real estate investors. Rehabilitation includes new plumbing, electrical systems and fixtures, breaker boxes, installation of individual baseboard electric heat, new ceramic tile and carpet and oak kitchen cabinetry.
The auction will be held online June 23 – 25 and has a minimum bid price of $133,823. Specifications, photos, appraisal details and other information are currently available online at www.bid4assets.com/ECH9. Prospective bidders wishing to inspect this property the week of June 1 must send their request to inspections@bid4assets.com. Interested buyers can contact Bid4Assets with any questions by sending an email to service@bid4assets.com.
This property was forfeited to the U.S. Marshals Service as part of restitution owed by a convicted felon. The defendant and co-conspirators used the U.S. mail to collect over $2 million from unsuspecting citizens promising them work at home in exchange for an “application fee”. The guilty party is currently serving a 55 month prison term.
The assets offered for sale by the U.S. Marshals Service are forfeited to the United States under federal forfeiture laws. The U.S. Marshals administer the Department of Justice’s Asset Forfeiture Fund by managing and disposing of properties seized and forfeited by federal law enforcement agencies and U.S. attorneys nationwide. The program has become a key part of the federal government’s efforts to combat major criminal activities. Currently, the Marshals manage almost $1.7 billion worth of property.
The Asset Forfeiture Program consists of the U.S. Marshals, U.S. Attorneys Offices, the Federal Bureau of Investigations, the Drug Enforcement Administration, the Department of State’s Diplomatic Security Service and the Bureau of Alcohol, Tobacco, Firearms and Explosives.
About Bid4Assets, Inc.
Bid4Assets (http://www.bid4assets.com) is the online auction marketplace that specializes in absolute auctions – real estate starting at $1 with no reserve price. Bid4Assets conducts online auctions for a growing list of federal and state government agencies, including more than 40 counties nationwide, the U.S. Marshals Service and the U.S. Department of Treasury. The privately held company, launched in 1999, is based in Silver Spring, MD and has sold over 60,000 real estate properties.
About U.S. Marshals Service
The Marshals Service (www.usmarshals.gov) administers the Department of the Justice’s Asset Forfeiture Program by managing and disposing of properties seized and forfeited by federal law enforcement agencies and U.S. attorneys nationwide. Currently, the Marshals Service manages more than $1.7 billion worth of property. The proceeds from the sale of forfeited assets such as real property, vehicles, businesses, financial instruments, vessels, aircraft and jewelry are deposited into the Asset Forfeiture Fund and are used to further law enforcement initiatives.
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