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Article: Bank is only bidder on 14-lot subdivision; Brownell, now in prison, developed it
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- April 10, 2007
- Author:
CopyrightCopyright 2007 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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Waukesha - Associated Bank was the only bidder on the last
Wisconsin land deal of building industry con-man Bob Brownell - a 14-
lot subdivision in the Town of Waukesha - at a Waukesha County
sheriff's auction Monday.
Scott J. Brady, attorney for Associated Bank in Milwaukee, bid
$2.1 million for the property, which includes one home.
The bank was required to put 10% down on the bid, and the sale
will close at a date to be determined in Circuit Court.
The development of the Black Oak Ridge subdivision started the
summer before Brownell's October 2004 indictment in a $20 million
land and loan fraud, and it is being sold to pay off a $2.23 million
loan default.
Brownell, a 1995 newcomer to the ...