FORT WAYNE, Indiana (Indiana's NewsCenter)-There are new legal troubles for Auburn’s Kruse International and owner Dean Kruse. A Kansas bank has asked a judge to hold Dean Kruse in contempt for violating terms of a loan on which Kruse still owes $6.5 million.
The complaint alleges Kruse did not own three historic vehicles that were used as collateral for that loan, which is now in default. A hearing is set for Monday in Dekalb Superior Court.
Last month Dean Kruses’s personal jet was seized for defaulting on another loan. In June his home in Arizona was foreclosed on, and Arizona officials claim Kruse owes them $90,000 in unpaid taxes. Dean Kruse has said the current recession has hurt sales at his various auctions.
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