Bid4Assets announces auction of Virgin Islands home
Published July 14th, 2009
Silver Spring, MD – Bid4Assets, Inc., (www.bid4assets.com), an online real estate auction company, announced today that it will host an auction for a federally forfeited home in the U.S. Virgin Islands. The property is located on the island of St. Thomas.
This property comes from a highly publicized federal case in Washington, D.C. Harriette Walters, an employee of the District of Columbia Office of Tax and Revenue, acted in conjunction with her brother, Richard Walters, to embezzle over $48 million. The stolen money was used to buy luxury goods including this property, which is now to be auctioned on Bid4Assets.com. Click here to view the property online.
The auction will be held online July 27 – 29. Interested bidders can inspect the property by appointment only on July 21. Interested bidders should email inspections@bid4assets.com and reference auction 417290 to schedule an inspection appointment. The minimum bid price is set at $212,500 with a deposit requirement of $42,500. The property consists of two units and over 3,000 square feet of living area, situated on 0.64 acres with ocean views.
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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