AUBURN, Ind. (Indiana’s NewsCenter) – More legal woes for the Dean V. Kruse Foundation in Auburn, as a judge orders the museums to be sold.
Farmers State Bank of LaGrange sued the Dean Kruse Foundation for $2.9M for defaulting on a loan granted in April 2009 and refinanced in May 2011.
According to “Business Weekly,” Judge Monte Brown ruled in the bank’s favor on July 11, 2012. Now Kruse must sell 328 acres of his properties. That includes the 28 acres containing the National Military History Center (Victory Center) and the Andy Granatelli Hall of Fame Museum, as well as the surrounding 300 acres.
“I think this community is very proud of what the WWII museum represented. We were very proud to see that come to our community and be maintained in our community. So it's a little scary not knowing what's going to happen to it now,” said Sarah Dempsey of DeKalb County.
The details on how the properties, buildings, and contents will be sold are still in the works, according to “Business Weekly.” The article also stated the land will be sold in parcels as little as five acres and will range from $12,000 to $35,000 per acre.
This isn't the first time Kruse has been in legal trouble. Several lawsuits have been filed against him and his companies over the past few years. Click on the links for those stories.
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