No new date set for auction of Ponzi scheme investors belongings - WRCBtv.com | Chattanooga News, Weather & Sports

No new date set for auction of Ponzi scheme investors belongings

Posted: Updated:
SALE CREEK, HAMILTON COUNTY -

The auction of items belongings to an investor involved in an alleged Ponzi scheme is postponed. 

Saturday the items of former Soddy Daisy tax preparer Jack Brown were to be auctioned off.  A new date has not been set.

Jack Brown admitted he used money given to him by investors at his Soddy-Daisy business to pay off creditors.

He says he planned to invest the money into stock, but began losing money in 2010.

More than 10 million dollars in claims is still owed to creditors. 

Flipper McDaniels & Associates is in charge of the auction.

 

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