websites are set to be auctioned Thursday in a bid to recover at least some of the more than $77 million that investors lost in an alleged Ponzi scheme.
The court-ordered online auction includes 200 operating websites and thousands of dormant domain names, ranging from The Income Store’s former website to the never-developed DonaldTrumpCollectables.com.
“The goal of this auction is to raise as much money as possible to pay back to all the shareholders that got the short end of the stick here,” said Monte Cahn, founder and president of RightOfTheDot, a Florida-based digital assets auction company. “I don’t think we can cover all the losses, but at least it pays back something instead of having complete losses for everybody.”
More than 480 investors filed claims against The Income Store, a website development business that was shut down amid allegations of securities fraud in December 2019.
The Income Store was launched in 2017 by Kenneth Courtright, 51, who operated the business out of his Minooka home. He is facing civil and criminal charges tied to allegations that investors were lured with annual returns of up to 20% if they paid a six-figure “upfront fee” used to build and operate websites.
read more (Chicago tribute)
The court-ordered online auction includes 200 operating websites and thousands of dormant domain names, ranging from The Income Store’s former website to the never-developed DonaldTrumpCollectables.com.
“The goal of this auction is to raise as much money as possible to pay back to all the shareholders that got the short end of the stick here,” said Monte Cahn, founder and president of RightOfTheDot, a Florida-based digital assets auction company. “I don’t think we can cover all the losses, but at least it pays back something instead of having complete losses for everybody.”
More than 480 investors filed claims against The Income Store, a website development business that was shut down amid allegations of securities fraud in December 2019.
The Income Store was launched in 2017 by Kenneth Courtright, 51, who operated the business out of his Minooka home. He is facing civil and criminal charges tied to allegations that investors were lured with annual returns of up to 20% if they paid a six-figure “upfront fee” used to build and operate websites.
read more (Chicago tribute)