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Housing prices are falling around the country, but this one sounds hard to believe: A seaside mansion on Jupiter Island in Florida, bought for more than $13 million five years ago, was just sold for $10.
The couple jointly bought the home in Hobe Sound, Fla., for $13.75 million in March 2004, and the sale to Mrs. Fuld on Nov. 10 was first reported by Cityfile.com.
It is possible that he is now transferring properties because of his fears of investor lawsuits or a possible bankruptcy, lawyers in Florida said.
Originally posted by redhatty
Reuters reports it at $100.
Either way, it is nothing more than a bad attempt to stop it from being seized in a civil action, and it is a fraudulent conveyance.
Very little difference from Bernie Madoff sending over $1 Million worth of jewels out to relatives and friends while under house arrest.
The cockroaches are running scared in the light