Auction scheduled for Jack Brown estate

Auction scheduled for Jack Brown estate

January 26th, 2014 by Staff Report in Local Regional News

Jack Brown

Photo by John Rawlston/Times Free Press.

The Soddy-Daisy home, office, day care, vehicles and collectibles of the late Jack Brown will be auctioned next month to help repay creditors who lost millions of dollars of investments when the tax preparer bankrupted in 2012.

The bankruptcy trustee for Brown's estate will sell the Brown's Tax Service building and ABC childcare facility on Feb. 7 and Brown's homes, lakefront lots, gym, barns, vehicles, equipment, jewelry and all types of personal property on Feb 8. Realtor Flipper McDaniel is handling the auctions.

Brown died in September owing about $12 million to people who thought they were making legitimate investments with him. The creditors and bankruptcy trustee have accused Brown of running a Ponzi scheme and using some of the investments for his own use and businesses.