The Westhaven Group s liquidators have sold seven properties since Jan. 24 for a combined $570,662, according to a report filed yesterday with the Lucas County Court of Common Pleas.
Proceeds from those sales have been split between the shuttered real estate company and interest-bearing escrow accounts for its investors, the report said.
The Ohio Department of Commerce wrested control of Westhaven away from its founder, John Ulmer, in December after documenting that the company engaged in securities fraud.
Gerry Kowalski, one of West haven s court-appointed receivers, notes in the report that Mr. Ulmer has finally signed away the titles on two company-owned Volkswagen Beetles.
The report further notes that federal authorities have been very cooperative in sharing Westhaven s records with the receivers.