Harrison Abstract Update
They are trying to freeze many of Dian Brown's assets and are having a hearing today (7/21) to discuss it. She and her attorney are still trying to claim that her personal assets should be exempt from any action since the problems were with her corporation. This is a ridiculous argument that will hopefully be tossed out by the judge. It's been reported that Brown admitted transferring $400,000 of client money from the corporate accounts to her personal accounts. That makes an easy connection to why her personal assets should be frozen ASAP and used to pay off her victims.

The news accounts of this case have given the impression that all funds held by Harrison Abstract have been frozen since the end of June. I just learned from some clients whose funds were part of this mess that their money was released after pressure was exerted by a Harrison bank and it was explained that there may be additional damages due to the failure to complete a 1031 exchange. Hopefully, other people who had their money in Harrison Abstract's account when everything was frozen will also be able to close their deals without having to wait months or years.

Labels: 1031

- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 7/21/2003 12:33:00 PM Send this post: