Tax Guru-Ker$tetter Letter

Friday, July 11, 2003

More On Harrison Abstract
The Harrison Daily Times seems to be the only one covering this story. My guess is that someone high up at the Times was among the many victims. New details:

Harrison Abstract receiver files report - It doesn't sound good, especially for the people who had their recently deposited money frozen when the company was seized.

Harrison Abstract audited

Couple awaits closing - These people lost the money they deposited into escrow on Wednesday, two days before everything was frozen. This is exactly what happened to our clients, who deposited their money into the Harrison Abstract bank account on Thursday, one day prior to the shut-down.

These kinds of things are extremely messy and can drag on for several years. It reminds me of a case back in the PRC, where a savings & loan in which my parents had an account was seized by the government for mismanagement. It took years for the depositors to get any of their money back; and that was only spurred along by threats of violence by some very upset depositors. With Harrison's love of lynchings and other forms of vigilante justice, that may be what it takes in this case to ensure a speedy resolution.
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 7/11/2003 03:47:00 PM Send this post: