Billings, MT Mansion Built with Stolen Money, SOLD

Former owners of a mobile home park purchased the 26,000-square-foot mansion, built with stolen money, for $7.5 million.

A former Signal Peak mine executive built the mansion six years ago with stolen money.  Currently serving a five-year prison sentence, the mine executive admitted to stealing $40 million in various schemes, which included $20 million from the mine.

Proceeds of the sale, after closing costs, will be used to resolve a $1.7 million dollar tax lien.  Fraudulent funds traced to the mansion could be forfeited to the government, with at least $1.1 million owed to builders and material companies.  The remainder of the funds from the sale will be split between investment groups who loaned the mine executive a total of $17.8 million.

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