Diva
04-05-02, 11:21AM
PORTLAND, Maine (AP (http://www.newsobserver.com/ncwire/news/Story/1109101p-1106980c.html)) -- A North Carolina bank wants a judge to jail a Brunswick couple accused of spending $340,000 that was transferred to their account by mistake.
Lawyers for First Union National Bank argue that by moving their personal belongings to Georgia, Jeffrey W. and Kimberly J. Clark violated a court order that prohibits them from moving their assets out of Maine.
The bank sued the Clarks in federal court in January. It is seeking repayment of $340,000 that was accidentally deposited into the Clarks' account.
The bank accuses the Clarks, the former owners of the now-closed Sugarloaf Collectibles store, of using the money for a month-long shopping spree and to beef up their Beanie Baby inventory. The Clarks deny that they spent that much of the money.
Court records depict Jeffrey Clark, 40, as a Beanie Baby retailer and trader with a penchant for gambling. In a sworn deposition that Clark gave on Feb. 14, he claims to have spent more than $400,000 last year on gambling ventures.
According to Clark's statements, the store had monthly gross sales of $60,000, and he supplemented his retail income by selling $60,000 worth of Beanie Babies over the Internet every month.
The bank wants a judge to find the Clarks in contempt for moving furniture and other personal belongings to their new home in Georgia. A hearing on that motion has not yet been scheduled.
"Ours is a simple case. They have our money. And we want it back," said Peter Brann, a Lewiston attorney who represents First Union. First Union is seeking repayment of the $340,000 plus an estimated $25,000 to cover attorneys' fees.
The Clarks' lawyer, Jack Barnicle, confirmed that they have moved back to Georgia and are selling their house in Brunswick. Barnicle insisted they are not trying to run away but are merely moving the items because of the pending sale.
Barnicle said his clients are cooperating with the bank and trying to reach an out-of-court settlement.
The Clarks' battle with the bank began last fall when First Union credited the couple's account for $377,750 when the check was actually for $37,750.
Barnicle said most of the money from the sale of the house, which is expected to fetch $320,000, will go to the bank. The couple also has agreed to leave behind paintings and Beanie Baby inventory worth approximately $86,000.
What I want to know is... If you suddenly found yourself $377,750 richer, wnat would you do?
Lawyers for First Union National Bank argue that by moving their personal belongings to Georgia, Jeffrey W. and Kimberly J. Clark violated a court order that prohibits them from moving their assets out of Maine.
The bank sued the Clarks in federal court in January. It is seeking repayment of $340,000 that was accidentally deposited into the Clarks' account.
The bank accuses the Clarks, the former owners of the now-closed Sugarloaf Collectibles store, of using the money for a month-long shopping spree and to beef up their Beanie Baby inventory. The Clarks deny that they spent that much of the money.
Court records depict Jeffrey Clark, 40, as a Beanie Baby retailer and trader with a penchant for gambling. In a sworn deposition that Clark gave on Feb. 14, he claims to have spent more than $400,000 last year on gambling ventures.
According to Clark's statements, the store had monthly gross sales of $60,000, and he supplemented his retail income by selling $60,000 worth of Beanie Babies over the Internet every month.
The bank wants a judge to find the Clarks in contempt for moving furniture and other personal belongings to their new home in Georgia. A hearing on that motion has not yet been scheduled.
"Ours is a simple case. They have our money. And we want it back," said Peter Brann, a Lewiston attorney who represents First Union. First Union is seeking repayment of the $340,000 plus an estimated $25,000 to cover attorneys' fees.
The Clarks' lawyer, Jack Barnicle, confirmed that they have moved back to Georgia and are selling their house in Brunswick. Barnicle insisted they are not trying to run away but are merely moving the items because of the pending sale.
Barnicle said his clients are cooperating with the bank and trying to reach an out-of-court settlement.
The Clarks' battle with the bank began last fall when First Union credited the couple's account for $377,750 when the check was actually for $37,750.
Barnicle said most of the money from the sale of the house, which is expected to fetch $320,000, will go to the bank. The couple also has agreed to leave behind paintings and Beanie Baby inventory worth approximately $86,000.
What I want to know is... If you suddenly found yourself $377,750 richer, wnat would you do?