This is a big steal for anyone who’s got interest, the financial muscle and some guts.
Now is your chance to own the Fells Point Rita's Italian Ice franchise that was seized in 2013 in a drug investigation.
The U.S. Marshals Service is selling a Rita's Italian Ice franchise and its assets at 2033 Eastern Ave. in Fells Point. Authorities took the franchise and relevant assets in 2013 after its owner, together with 8 other defendants, was arraigned for allegedly running what federal officials say was a Baltimore-based cocaine distribution ring.
The sale is an interlocutory sale, which indicates both the accused and U.S. Marshals Service concur it remains in everybody's finest interest to offer the property for sale.
The minimum bid is set at $160,000. This covers the franchise contract, leasehold interest and all personal effects and components on the home that associate with operating the restaurant business. The minimum bid does not include a $15,000 franchise transfer charge and a $3,415.67 lease security deposit. The Rita's place is still an operating company.
Kedrick "Ricky" Jenifer bought the Rita's franchise with illegal drug money and used it to keep the look of genuine income, according to an October 2014 affidavit from the United States Attorney's office. He was also charged with conspiracy to disperse more than 5 kilograms of cocaine and using a genuine estate company to acquire seven rental buildings to help launder drug cash.
Jenifer, who was apprehended in October, has actually not yet dealt with trial and his case is still pending, stated Marcy Murphy, spokeswoman for the United States Attorney's Office.
So you’re interested in this? Great!
Indeed, it is can be tempting to buy seized assets at an auction. Who doesn’t like great deals?
Although I can’t afford anything near the reserve price right now, I’m lured by the chance of winning the bid at less than market value, or being able to afford a larger, nicer home than I could normally afford through the traditional housing market.
Maybe if it’s not right for my budget, it might be for yours. So know that bidders need to sign up with the U.S. Marshals Service by Sept. 4 and send the following forms: a bidder registration form, confidentiality agreement and a Rita's confidential application.
The deadline for bidding is set at Sept. 20 at 5 p.m., and the sale is likewise contingent on approval from Rita's Water Ice Franchise Company LLC.