Millions in proceeds
While the company failed to provide its products, Christian raked in about $1.5 million annually and in total at least $7.8 million, Schweiker said at the October hearing.
Before that initial October hearing, Christian and his wife funneled much of the remaining assets into various accounts, according to Schweiker. They even took most of the physical belongings and paperwork from Financing Alternatives’ rented headquarters.
The company’s receiver, Campsen, estimated that there is no more than $60,000 left in the company while it owes countless millions in back taxes, unpaid advertising contracts and refunds to thousands of consumers.
If Christian is named in the lawsuit, the state could go after his house, which the county assessed at $864,900, his many vehicles and the millions he earned as the company’s chief executive officer if he hasn’t spend it already.
After the Dec. 14 hearing, Christian and his wife were ordered to hand over all of the company’s financial documents which they took from the company’s vacated premises in early October. However, Campsen has not received a single document, said his assistant, Bronwen Joyner. She said it could be weeks before the Christians are forced to hand them over.
The Virginia State Police has an active criminal investigation into Christian’s activities, authorities said.
While the lawsuits and investigations continue, Christian appears close to launching a new, nearly-identical company called Green Frog Funding.
Possibility Related Posts:
Tags: Baghdad, Business, Christian, Company, Iraq, Kirkuk, Muslim, Virginia State Police