02 Apr2014
Written by CFB Blogger. Posted in Blog
Mark Young, a Boulder, Colorado, real estate developer who was convicted of felony theft in connection with a 2006 real estate deal, has recently filed for Chapter 7 bankruptcy.
Young, who filed the Chapter 7 bankruptcy with the
U.S. Bankruptcy Court for Colorado, has estimated assets of between $50,000 and $100,000, estimated debts of between $10 million and $50 million and about 100 creditors, including individuals, real estate limited liability companies and banks.
According to an article by Alicia Wallace in the
Daily Camera Boulder News, Young was convicted in 2011 of theft stemming from a deal in which he took $51,000 from Rudy Harburg, a friend and business partner. Young was sentenced to two years of work-release, six years of probation and ordered to pay more than $71,000 in restitution to Harburg.
Sean Finn, chief trial deputy for the
Boulder County District Attorney’s Office, said that Young’s bankruptcy would not affect the required restitution payments.
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