When a former bank employee pleaded guilty to eight counts of bank fraud, she agreed to forfeit the home for which she had been stealing money to stay in.
But another party has weighed in, asking a federal judge for a hearing about the Spencerville property.
In September 2012, an investment owned by Bradford Pepple purchased the foreclosed home of Kandi Biggins at an Allen County sheriff’s sale. In February, Pepple agreed to sell the property back to Biggins’ son for $258,000, according to court documents.
But the money she used for a down payment, according to court documents, had been taken from Tower Bank where she worked. Biggins used cashiers checks to take money from the bank and used it to pay $175,000 as a down payment.
Biggins was a mortgage loan underwriter at Tower Bank, and she admitted to stealing $182,466 from the bank. She is scheduled to be sentenced next week.
As part of her guilty plea to bank fraud, the 43-year-old forfeited the property to the U.S. government.
Attorneys for the Pepple investment argue that he retains the title to the real estate and asks the court to recognize his rights to it.
The property is also the subject of a civil lawsuit, filed by Tower Bank against Biggins and the Pepple investment. The lawsuit is pending in Allen Superior Court.