Legal Headaches Grow For Kruse

By Eric Olson

June 18, 2010 Updated Dec 18, 2009 at 6:23 PM EDT

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.

RSS Stay up to date, subscribe to the Local & Regional RSS Feed.

What are your thoughts on this story? CLICK HERE to leave us "Your 2 Cents."

What are your thoughts CLICK HERE to leave us a "QUESTION OF THE DAY” comment.

© Copyright 2016, A Quincy Media broadcasting station. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.