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Sun Aug 28, 2016, 09:07 PM

Wife of convicted Detroit Public Schools vendor gets to keep 25% of his $1.1-million home

After all the legal squabbling over her husband's assets, the wife of convicted Detroit Public Schools vendor Norman Shy gets to keep a cut of her $1.1-million marital home but not as much as she had hoped .

Under a new court order, Carolyn Shy will get 25% of whatever the 7,000-square-foot Franklin condo sells for; the rest will be forfeited. In recent weeks, Carolyn Shy had claimed a marital stake in the home at least 50 % arguing the government can't outright take it from her because she did nothing wrong.

In an apparent move to avoid litigation, the government agreed to let her keep 25% while Norman Shy forfeits the rest. The stately brick home, the government says, is the fruit of Norman Shy's ill-gotten gains: The 74-year-old businessman billed DPS $2.7 million for supplies that were never delivered by paying kickbacks to principals who approved his phony invoices. He faces up to seven years in prison when he is sentenced next month, and has to pay the $2.7 million back to DPS as restitution.

-snip-

Meanwhile, the government has been combing through Norman Shy's assets for months, trying to recover as much as it can from a man it claims lived large in part by scamming a poor school district. Federal prosecutors also have accused Norman Shy of trying to liquidate some his assets to keep the government from seizing them, noting in court documents that he sold artwork and a condo in May when he knew he wasn't supposed to under the terms of his plea deal.

Read more: http://www.freep.com/story/news/local/michigan/detroit/2016/08/27/wife-convicted-dps-vendor-gets-keep-25-his-11-million-home/89461412/

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Reply Wife of convicted Detroit Public Schools vendor gets to keep 25% of his $1.1-million home (Original post)
TexasTowelie Aug 2016 OP
MichMan Aug 2016 #1

Response to TexasTowelie (Original post)

Sun Aug 28, 2016, 09:34 PM

1. Hopefully after the IRS is done she ends up with zero n/t

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