Federal Marshals wearing Bulletproof Vests Seize Fannin Motors; Bank Owed $17.8 Million

Updated 28 weeks ago by Tony E. Rutherford, News Editor
Federal Marshals wearing Bulletproof Vests Seize Fannin Motors; Bank Owed $17.8 Million

Federal Marshals armed and wearing bullet proof vests have taken possession of the Fannin Motors dealership on U.S. 60 in Ashland, Ky. The action comes in response to a lawsuit by BB&T which asserts that the company and its owners owe $17.8 million dollars.

Based on court documents when representatives of the bank on April 11 arrived to take possession of the collateral, a family member told the representatives to visit his office upstairs and that they "would come back in a box."

Another family member told officials that they would "beat their ass" and "to guide one representative to a spot on the lot."

Collateral includes about 300 vehicles, as well as a firearm, jewelry, coin , currency  and knife collection.

The destination dealership location includes a classic auto museum, shark tank and 50s style cafe.

You can download a PDF of the initial complaint below.

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