NACOGDOCHES, TX (KTRE) - Individuals interested in buying items once owned by George Hudgins may soon find out if they have the winning bid. Hudgins is the Nacogdoches business man facing civil and criminal charges for running an alledged Ponzi Scheme. Investors lost millions of dollars. Former investors now know reviews will begin on bids already placed on Hudgins' belongings. The deadline for investors to file a claim has passed. This gives the receiver more time to spend reviewing the website and bidding.
Meanwhile, a class action suit against Hudgins and the futures commission merchant he was associated with was formally filed in Tyler Federal Court. Attorney Jeff Badders, who is also a victim said, " Every class action has to have several plaintiffs to represent the class. These individuals were chosen because of various reasons. Some had direct contact with Rosenthal Collins, the trading company out of Chicago and some have lost everything in this case. "