Public can bid on businessman's belongings - KTRE.com | Lufkin and Nacogdoches, Texas

Public can bid on businessman's belongings

NACOGDOCHES, TX (KTRE) - It's kind of like an on line garage sale. And unfortunatetly its need is at the expense of someone elses hardship.   George Hudgins, the Nacogdoches man charged with embezzlement for allegedly running a phony commodity pool is losing all his belongings. The receiver is selling $21.5 million in holdings and possessions. People in the market of collector cars to household furniture and tools can bid on the items. They'll be accepted via e mail or by phone. Individuals wishing to bid on real property such as the house, land and airplane hanger should wait untl the court ordered appraisals are completed.   The items can be viewed at www.hudginsreceivership.com  

Letter from receiver:

Greetings to those wishing to bid:

To those of you who have registered on the receivership website and sent emails or just wondered how the bidding is going to be conducted, the following should help clear it up.  I will be accepting bids via email by either the link on the website or directly to my email address listed below or by phone.  I personally would prefer email so that I have the ability to track bids.

All bids that have been received have not yet been posted because of the  duties I have with the investors which are currently taking priority to the liquidation of property.  Individuals wishing to bid on real property such as the house, land or hanger should wait until the court ordered appraisals are received by the Receiver's Office.  These appraisals will set the value the Receiver will expect on behalf of the investors.

If you see an item in which you have bid on but it does not reflect your bid, please have patience with me as my first priority is to assist investors with Proof of Claim forms that must be received by September 1, 2008.  I am trying to set aside time each day now to perform custodial duties for the website.

Thank you for your attention and cooperation regarding this matter.

Will Hester

Assistant to the Receiver

214.706.4202

will.hester@solidcounsel.com

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