U.S. Securities and Exchange Commission

How do you sell the mansions and sports cars of alleged Towson Ponzi schemer? It's not cheap work

How do you sell the mansions and sports cars of alleged Towson Ponzi schemer? It's not cheap work

Finding all the riches of alleged fraudster Kevin B. Merrill is pricey work in itself.

The 53-year-old Towson businessman had millions in bank accounts, vacation homes and exotic sports cars. With his criminal case underway, a team of lawyers and investigators set about to sell his treasures and pay back his investors.

The divestment team has billed more than $500,000 for their first 44 days on the job. Despite criticism from the defense team, they say their work is exhaustive and it’s money well-spent.

“If you look at the list of assets, it’s mind...

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