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Thursday, July 25, 2013 03:45 pm

Going somewhere?

Parsons packs bags

Parson's house, with moving van and personal belongings out front.
Photo by Bruce Rushton.

Jeffrey Parsons, the allegedly bankrupt entrepreneur who made and purportedly lost a fortune buying and selling gold and precious metals, is moving.

Moving vans appeared today outside Parsons’ Panther Creek luxury home, which Parsons acquired in 2011 in a lease-to-own deal with local car magnate Todd Green. Green paid $865,000 for the home, then turned it over to Parsons, who made a $200,000 upfront payment, half in cash and half in silver coins.

Mark Rabin, Green's lawyer, says that Parsons is behind on rent, having failed to make his monthly payment of more than $9,000 for July.

Under the deal reached in the fall of 2011, Parsons was supposed to make monthly payments over two years, then take title after paying a total purchase price of slightly more than $1 million. According to court records, Parsons spent at least $88,000 on improvements before moving into the home bordering the Panther Creek Golf Course.

Furniture, lamps and other sundry items blocked the entrance to the home on Thursday morning. A man and a woman who stood on the front steps said that Parsons wasn’t home. They said that he is relocating, but they did not know where.

Parsons, whose company THR and Associates has bounced checks to employees and customers throughout the nation who sold valuables at buying events typically set up at hotels, declared bankruptcy last year. He is now under pressure from a bankruptcy trustee who says that Parsons has concealed hundreds of thousands of dollars in assets from scores of creditors that include the Internal Revenue Service.

For more on Parsons' case, click here: http://www.illinoistimes.com/Springfield/article-12658-jeffrey-parsons-accused-of-lying.html

Contact Bruce Rushton at brushton@illinoistimes.com.

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