Halsey Minor, the co-founder of CNet’s foreclosed country estate in Virginia was auctioned off today and was reportedly purchased by his attorney.
Minor, who was also a major investor in Salesforce.com, had leveraged his 205-acre Fox Ridge Farm, which was assessed at $3.9 million, to take out millions in loans for an ill fated hotel development. That development project came to a halt with litigation involving Minor, a bank, and a developer.
The farm, which is burdened by a $6.7 million lien, was sold for $1.3 million on the steps of the Albermarle County Circuit Courthouse to Minor’s Charlottesville attorney.
Via: Biz Journals