Hudgins Belongings Up For Sale - KTRE.com | Lufkin and Nacogdoches, Texas

7/9/08 - Nacogdoches

Hudgins Belongings Up For Sale

All a person has to do is go to the Hudgins Receivership website www.hudginsreceivership.com  and view all the Nacogdoches business man's assets that are on the auction block. George Hudgins is facing a federal civil suit for fraud in an investment scheme. So far the receivership has successfully recovered 19.7 million dollars. Fancy cars, his house, furniture and an airplane are a fraction of the items being sold.  At least 25 people who have received false profits have been ordered to return the money. One client received false profits of more than a million dollars. Personal gifts and recovery of commissions are also being requested. Monies invested with Hudgins weren't earning a profit, but instead were either lost in trading, used by him for his personal gain or for gifts to family and friends. It's known as a Ponzi scheme. Federal criminal charges are pending.
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