An article in yesterday's Business section incorrectly described the financial condition of real estate developer Mark Vogel. The two race tracks owned by Mr. Vogel are in bankruptcy proceedings, but Mr. Vogel has not filed for personal bankruptcy protection.
Federal prosecutors have launched an investigation of the Fishing Creek Farm, an exclusive waterfront subdivision in Anne Arundel County developed by Mark Vogel, the real estate executive and racetrack owner who filed for bankruptcy this year after he pleaded guilty to possession of cocaine.
Federal investigators have issued subpoenas for all the county' records concerning the Fishing Creek Farm development, Virginia P. Clagett, chairwoman of the Anne Arundel County Council, said yesterday. She said that she was not sure of the object of the investigation.
There have been published reports that Mr. Vogel is the object of a broad probe of alleged corruption involving developers and politicians.
Neither Mr. Vogel nor the U.S. attorney's office in Baltimore would comment.
Stephen R. Beard, the county attorney, confirmed that three subpoenas were issued, one to the County Council, one to the county executive and the third to the Department of Planning and Zoning. The county has been asked to furnish all documents regarding the Fishing Creek project since Jan. 1, 1987.
According to the county records, George and Margaret Haguely, owners of the property, and Mark Vogel Associates applied Nov. 19, 1985, to create the subdivision. Approval was granted Jan. 7, 1988. The approval came at a time when the county was operating under interim "critical areas" regulations to curtail water pollution.
The application was for 119 units of single-family homes on 20 acres. Since the parcel is waterfront and the critical area is 1,000 feet from tidal waters, some of the property was in the critical area.
Quarter-acre and half-acre lots at Fishing Creek are listed fro $144,000 to $375,000. Homes are listed for up to $1.1 million, according to the Multiple Listing Service.