Auction of former US Fidelis owners’ property
Tuesday, November 23, 2010
WENTZVILLE, Mo. (AP) — An auction of the 144-acre St. Charles County farm of the brothers who at one time owned US Fidelis has netted $1.1 million.
STLtoday.com, the website for the St. Louis Post-Dispatch, says money raised in the Saturday auction will eventually help pay creditors.
US Fidelis was once among the nation’s largest auto warranty service dealers. In March, the Wentzville, Mo.-based company filed for bankruptcy amid accusations it used illegal telemarketing ploys and sold worthless warranties.
In October, a federal bankruptcy judge approved a settlement calling for former owners Darain and Cory Atkinson to pay about $10.5 million and surrender possibly $10 million more in assets.
No criminal charges have been filed, but an investigation continues.